Canada
PAGCOR statement on the uncollected P2.328B POGO income
The Philippine Amusement and Gaming Corporation (PAGCOR) would like to clarify a recent report by the Commission on Audit (COA) regarding its outstanding accounts receivables amounting to P2.328 billion.
Out of the P2.328 billion, the P815.902 million indicated in the report as under protest has already been resolved with finality. To recall, said amount resulted from PAGCOR’s intensive fight against illegal online gambling and its overzealousness to maximize collections which led it to impose assumed or estimated billings for suspected undeclared websites. After thorough revalidation, no link between the suspected undeclared websites and concerned POGOs were established. In fact, the undeclared sites were actually websites of illegal operators stealing the live stream of our licensees.
On the P1.512 billion which remain uncollected, majority of the said amount is attributable to the recent effects of the Covid-19 pandemic. It must be recalled that on March 21, 2020, all POGO gaming operations in the country were ordered shut down by the Government in view of the implementation of the Enhanced Community Quarantine. On June 2020, despite being allowed to resume operations, majority of our operators were still unable to resume operations due to existing lockdowns, restrictions in business operations, prohibition on entry of foreign workers, and other pandemic measures.
It is worth noting that with the passage of the Bayanihan Act, which allowed the adoption of concessions to ease the economic burden on businesses, PAGCOR would have had the option of not imposing the monthly Minimum Guaranteed Fee (MGF) on the POGO licensees which failed to resume its operations. Nonetheless, because of PAGCOR’s desire to source revenues to fund the fight against the pandemic, the monthly MGF, which is for operators who do not meet their monthly target revenues under normal operating circumstances, was continuously imposed on all POGOs for the months of April and May 2020 notwithstanding the closure mandated by the Government, and for the succeeding months, regardless of whether the licensee was able to resume operations or not. In deference to the provisions of the Bayanihan Act, only the procedures on forfeiture of performance bond and cancellation of license were temporarily suspended. Nevertheless, despite such remedial measures, most POGOs were no longer able to reopen since the start of the pandemic, which consequently resulted in the accrual of uncollected bills.
Finally, it must be emphasized that POGOs which are currently operational were required to fully settle their accumulated arrears before they were allowed to resume operations. This meant full payment of their monthly MGF for the months that they were non-operational beginning on March 2020, including the months wherein closure and stoppage of operations was mandated by the government. These collected amounts were used by the Government to fund the fight against the pandemic.
To date, PAGCOR has been observing proper procedures for the collection of its outstanding receivables. Uncollected accounts receivables have already been referred to the legal department for necessary action, and PAGCOR is set on employing all legal means for its collection.
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Global entertainment brand SkillOnNet is deepening its existing partnership with Stockholm-based game studio Thunderkick to launch the developer’s unique, engaging slot titles in Ontario.
The Canadian province is one of the most exciting regulated markets in North America, and the Ontario players will now gain access to Thunderkick’s full portfolio of highly acclaimed games via SkillOnNet-powered online casino brands such as PlayOJO, SlotsMagic, and SpinGenie.
Thunderkick is known for its independent, boundary-pushing slot games like Pink Elephants, Esqueleto Explosivo, and Beat the Beast and has established a strong reputation for creativity and originality in the iGaming space. The deal allows the studio to further expand its global footprint while giving Ontario players the chance to enjoy a fresh wave of premium content.
Ontario’s regulated online gaming market, which officially opened in 2022, has quickly become a key market for the iGaming industry, and SkillOnNet was among the first brands to secure licensing in the province. The expansion reinforces SkillOnNet’s commitment to delivering top-tier entertainment in regulated markets globally.
Jani Kontturi at SkillOnNet said: “Thunderkick has been a key partner of ours in other markets, and we’re delighted to bring their outstanding content to Ontario. This region is fast becoming a vital part of our operations, and we’re confident players here will respond just as positively to Thunderkick’s games as they have elsewhere.”
Mariam Dodosh, Account Manager at Thunderkick said: “We’re thrilled to expand our relationship with SkillOnNet and enter the Ontario market together. Our games have a track record of strong performance, and we’re excited to see them go live in one of the most dynamic new regions in iGaming.”
The post Thunderkick’s portfolio makes Ontario debut through SkillOnNet brands appeared first on Gaming and Gambling Industry in the Americas.
Maverick Games has launched sports betting operations in Ontario, through a partnership with Delasport.
Maverick Games will offer Ontarian players a premium sports betting experience, built on Delasport’s superior technology and known for its unique innovative features that players love including personalization, recommendations, gamification, quick bets, player engagement features, and more.
Maverick Games is the second brand to launch on Delasport’s technology in Ontario, with another full turnkey brand set to go live soon. Delasport also recently unveiled its innovative sports betting jackpot network game, SuperPot. The company will showcase this unique product at the Canadian Gaming Summit next month and begin rolling it out to Ontarian operators shortly thereafter.
“We are proud to see Maverick Games live and thriving with our one of a kind sportsbook solution at its core. They have been a fantastic partner from the start, and this launch further demonstrates how fast and efficient our technology is when paired with a clear vision and strong collaboration,” said Rosaire Galea Cavallaro, VP of Business Development at Delasport.
“Maverick Games’s sports vertical is a major step forward for us and launching it with Delasport has been the right move from day one. The platform’s performance and flexibility allow us to deliver the kind of user experience we believe Ontario players deserve. We’re excited to now bring that vision to life,” CEO Matt Rathbun said.
The post Maverick Games Launches Sports Betting Operations in Ontario appeared first on Gaming and Gambling Industry in the Americas.
Tsleil-Waututh Nation (TWN) announced that it has signed a Memorandum of Understanding to acquire the casino business and related real property interests at Hastings Racecourse & Casino (Hastings) in the City of Vancouver from Great Canadian Gaming Corporation (Great Canadian Entertainment).
“We are thrilled to take another important step towards economic self-determination for our Nation in our traditional territory, and we are eager to work with the senior management team at Great Canadian Entertainment to finalize due diligence and execute a definitive agreement, as well as working with the City of Vancouver to ensure the best long-term use of this important asset within the City. We believe that this opportunity is historic for us in many ways, and we look forward to entering the gaming industry in due course,” said Jen Thomas, Chief of the Tsleil-Waututh Nation.
“We are excited about working with TWN on their potential acquisition of the casino operations and related real property interests at Hastings Racecourse & Casino. Recognizing that Hastings is part of the TWN’s traditional territory, we can think of no better entity to inherit this asset, and we look forward to supporting them in the transition after the anticipated close of the sale,” Matt Anfinson, Chief Executive Officer of Great Canadian Entertainment.
The agreement is subject to further due diligence, finalization of financial terms and the execution of a definitive purchase and sale agreement. Once a definitive agreement has been executed by the parties, it is anticipated that the transaction will be subject to customary closing conditions as well as customary approvals by gaming regulatory and other authorities, including certain approvals by the City of Vancouver given its ownership of the real property. It is expected that Great Canadian Entertainment will provide transition services to TWN for a period of time following the anticipated closing.
The post Tsleil-Waututh Nation Signs MoU to Acquire Casino Business at Hastings Racecourse & Casino appeared first on Gaming and Gambling Industry in the Americas.
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