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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Fennica Gaming has announced that it has been granted a gaming supplier license in Ontario, Canada. This milestone marks a significant step in the company’s expansion strategy, allowing it to offer its cutting-edge gaming experiences to gaming operators in one of North America’s most dynamic regulated markets.
The supplier license, granted by the Alcohol and Gaming Commission of Ontario (AGCO), enables Fennica Gaming to introduce its portfolio of entertaining and high-quality games to gaming operators across the province. This registration empowers Ontarian operators, whether online or land-based, to access the omnichannel offerings developed in the Nordics.
“We are thrilled to receive our B2B supplier license in Ontario and to offer our advanced gaming solutions to operators in the region. After a thorough application process, we can now proudly and prominently display our registration and achievement. We have followed the market in North America for a long time and Ontario is an excellent example of market that is well organized. It represents an exciting market with immense potential, and we are committed to delivering secure, entertaining, and trustworthy gaming experiences tailored to local preferences,” Timo Kiiskinen, Managing Director of Fennica Gaming, said.
Fennica Gaming’s Nordic gaming experience and heritage as an omni-channel gaming operator through its parent company Veikkaus offers a broad range of entertainment for Ontarian operators with a player-first attitude. This registration supports Fennica Gaming’s commitment to a sustainable industry, enabling operation in compliance with Ontario’s local regulatory framework.
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GeoComply, the global leader in geolocation security and fraud prevention, today announced the appointment of Kip Levin as its new Chief Executive Officer, effective Tuesday, March 4th. This strategic move reinforces GeoComply’s commitment to delivering cutting-edge solutions and driving success for its customers.
Kip Levin brings a wealth of experience to GeoComply, having served in various senior leadership roles at Flutter Entertainment over the past decade including CEO of the US business and President of FanDuel. Prior to that he spent 12 years at Ticketmaster where he led the product and ecommerce teams and oversaw the company’s expansion into mobile and resale. His proven track record in driving growth and innovation within dynamic, technology-driven markets positions him to enhance GeoComply’s ability to serve its customers.
This transition allows co-founder Anna Sainsbury to step into the role of Executive Chairman, where she will focus on strategic vision and governance, ensuring GeoComply continues to anticipate and meet the evolving needs of its customers. Co-founder David Briggs will shift his focus to Product and Innovation, leveraging his expertise to drive cutting-edge solutions as he moves from his previous role as CPTO.
“We are thrilled to welcome Kip Levin to GeoComply,” said Anna Sainsbury, Executive Chairman. “His extensive experience and strategic vision are perfectly aligned with our commitment to delivering exceptional value to our customers. I am confident that under his leadership, GeoComply will continue to innovate and expand its global footprint, ensuring we remain at the forefront of geolocation security and fraud prevention. This transition enables me to dedicate more time to our long-term strategic direction, focusing on how we can better serve our partners.”
Kip Levin expressed his enthusiasm for joining GeoComply, stating, “I am incredibly excited to join GeoComply, a company with a strong reputation for innovation and a commitment to customer success. The opportunities in this space are immense, and I look forward to working with Anna, David, and the entire GeoComply team to build on the company’s success and drive further growth for our clients. My experience in scaling businesses and driving product innovation will be instrumental as we navigate the evolving landscape of geolocation technology, ensuring we provide our customers with the most reliable and effective solutions.”
David Briggs, focusing on Product and Innovation, added, “With Kip joining us, I am eager to dedicate my full attention to driving innovation and developing groundbreaking solutions that directly address our customers’ challenges. This is an exciting time for GeoComply, and I am confident that our combined expertise will enable us to deliver even greater value to our clients, strengthening our partnerships.”
GeoComply is poised for continued success as it leverages Kip Levin’s leadership and the founders’ renewed focus on strategic vision and innovation. The company remains committed to providing its clients with the most reliable and advanced geolocation security and fraud prevention solutions, acting as a trusted partner in their success.
The post GeoComply welcomes Kip Levin as CEO, driving customer-focused innovation and growth appeared first on Gaming and Gambling Industry in the Americas.
BCLC has reminded the public to be cautious of a series of social media scams that imitate B.C. casinos and trick individuals into providing their financial details on illegitimate websites.
Highly deceptive, these scams share fraudulent posts and advertisements exploiting the logos, names, and exterior images of local B.C. casinos, and may claim to offer players exclusive bonuses and promotions if they register with their website or mobile application. BCLC warns that none of these sites are associated with casinos in B.C. or BCLC.
PlayNow.com is the only online gambling website permitted to operate in B.C. BCLC’s official apps are BCLC Lotto!, PlayNow Poker BC, and PlayNow BC Sportsbook. All BCLC-operated social media accounts, such as BCLC, PlayNow BC, PlayNow Sports, Lotto BC and Casinos BC, are verified with a checkmark.
While BCLC and its casino partners continue to work on having the posts removed, British Columbians should stay vigilant when it comes to these predatory and sophisticated scams.
To protect themselves, individuals are encouraged to:
• Be on alert when a website or app asks for personal or financial information. BCLC’s verified websites and apps will never ask for your social insurance number (SIN), banking information or credit card details online to claim a prize from a B.C. casino.
• Carefully check the URL and domain of the website to verify its legitimacy. Often, scammers will use a similar URL and domain to legitimate websites with a minor spelling difference.
• Always verify the company and its services are real before providing any personal information.
• Look out for other red flags, such as the suggestion of fees or taxes to be paid on a prize. There are no fees or taxes on prizes won in Canada.
If individuals feel unsure about an account, post or advertisement claiming to represent a B.C. casino, they can contact BCLC directly by calling the Customer Support Centre at 1-866-815-0222, or using the live chat resource on corporate.bclc.com or PlayNow.com.
The post BCLC Reminds Public to be Cautious of Illegal Online Casino Scams appeared first on Gaming and Gambling Industry in the Americas.
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