The Philippine gaming industry has experienced a surge in the first quarter of 2024, with Gross Gaming Revenues (GGR) reaching a staggering Php81.7 billion (€1.39 billion). This represents an 18.54 percent increase from the same period last year, according to the Philippine Amusement and Gaming Corporation (). 

PAGCOR Chairman and CEO , expressed his satisfaction with the industry's performance, particularly highlighting the outstanding growth in the Electronic Games (E-Games) sector.  

“The E-Games revenue performance continues to exceed our projections, and this reflects how gaming technology and the proliferation of mobile devices is influencing not only our daily lives but our entertainment choices as well,” Tengco said. 

“With the way technology is constantly shaping our lives and the way we do business, and even the way we choose to be entertained, the future of gaming clearly lies in this sector,” Tengco added. 

The iGaming revenue soared to PHP 22.5 billion (€360.9 million), exceeding expectations and demonstrating the profound impact of gaming technology on entertainment choices. 

Tengco attributed the success of the iGaming sector to PAGCOR's improved regulatory policies and reduced fees, which have attracted both local and international gaming companies to invest in the Philippine gaming industry. 

“We are confident that with our new regulatory policies, more gaming companies both here and abroad will continue to look at business and investment opportunities in the Philippine gaming industry,” he said. 

While licensed casinos remain the biggest contributors to 1Q GGR, bringing in PHP 49.7 billion (€797.13 million), there has been a slight decrease compared to the previous year. PAGCOR-operated casinos and bingo operations also experienced dips in revenue, indicating the ongoing challenge posed by online platforms. 

Despite these minor setbacks, the industry's outlook remains positive, with first-quarter revenues surpassing 24 percent of the projected full-year GGR. Moreover, the 1Q 2024 revenues have surpassed previous records, setting a promising trajectory for continued growth in the Philippine gaming industry. 

Andrew Rhodes, Chief Executive of the UK Gambling Commission (UKGC) confirmed that the third White Paper consultation will focus entirely on the land-based gaming sector.

Speaking at the Bingo Association Annual General Meeting (AGM) 2024, Rhodes provided insights into the . Rhodes addressed the audience, highlighting the importance of collaboration and data-driven decision-making in the gambling sector.

Rhodes began by expressing his enthusiasm to update the attendees on the Commission's work since the previous AGM, emphasising the ongoing efforts to implement the White Paper effectively. He underscored the role of the Government's policy in shaping the future of gambling across England, Scotland, and Wales, emphasising the need to prioritise its successful implementation for the benefit of all involved.

"The White Paper and the Government policy it contained was a signal moment for gambling in Great Britain
and a once in a generation opportunity to deliver positive change."

Rhodes also shed light on the Commission's commitment to enhancing the evidence base around gambling, citing the importance of accurate data for effective regulation. He highlighted the following priority areas where the GC wants to see more research being conducted, namely:

• early gambling experiences and gateway products
• the range and variability of gambling experiences
• gambling-related harms and vulnerability
• the impact of operator practices
• product characteristics and risk
• illegal gambling and crime.

Rhodes also mentioned ongoing stakeholder engagement initiatives and collaborations with the Department for Culture, Media and Sport (DCMS) to ensure a coordinated approach to implementing regulatory changes.

During his , Rhodes discussed the various consultations conducted by the Commission, including topics such as Financial Risk Checks and regulatory returns. He highlighted upcoming changes, such as the tightening of age verification processes and the introduction of new rules affecting land-based licensees. These adjustments, outlined in the Licence Conditions and Codes of Practice (LCCP), are set to be implemented in stages from August 2024 to February 2025.

The Mohegan Tribal Gaming Authority, trading as has reported a significant increase in its net revenues for the first quarter of 2024. The company’s financial performance was bolstered by the newly inaugurated Mohegan Inspire Entertainment Resort, a foreigner-only casino complex located in Incheon,

For the three months ending March 31, 2024, the company reported net revenues of US$461.7 million, marking a 13.8 percent increase compared to the same period in the previous year. Despite this, the company’s adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) fell by 17.8 percent year-on-year to just under US$84.0 million. The net loss for the first quarter of 2024 was nearly US$46.1 million, a significant increase from the US$9.6 million loss reported a year earlier.

The company attributes the increase in net revenues primarily to the continued growth of Mohegan Digital and the revenue generated by Mohegan Inspire. Ari Glazer, who assumed the position of CFO on May 1, 2024, stated that the decrease in consolidated adjusted EBITDA was mainly due to operating costs associated with the opening of Mohegan Inspire and non-controlling interest adjustments at Niagara Resorts, a property the company operates in Canada.

Mohegan Inspire, which opened its non-gaming facilities on November 30, followed by its foreigner-only casino on 3 February had an official launch for the property on March 5. The resort boasts 1,275 hotel rooms, 11 restaurants, and a 15,000-seat arena.

In the first quarter of 2024, the Incheon casino resort recorded net revenues of US$35.9 million. However, the property’s adjusted EBITDA were negative at US$24.1 million, primarily due to opening expenses related to labour and marketing costs.

Joe Hasson, the newly appointed interim chief operating officer at Mohegan, stated during a conference call with analysts that Mohegan Inspire was still in its ramp-up phase. Despite this, he expressed satisfaction with the trends observed in April and May. He also noted that the company was encouraged by the ramp at Mohegan Inspire, which was occurring in both the casino and non-gaming segments of the business.

Hasson added that the company sees breakeven EBITDA on the near horizon on a month-to-month basis. He acknowledged that during the initial ramp, the company had to spend on labour and marketing, but he sees breakeven approaching in the immediate future.

The parent company announced that new amenities at Mohegan Inspire, including an innovative food court concept, a digital interactive art attraction, and an amusement arcade, are expected to open in the second quarter of 2024, with a few others following in the third quarter of the year.

Games Global, a leading developer, distributor, and marketer of innovative online, casino-style gaming content, recently announced the postponement of its (IPO) in the US. This decision, while surprising to some, was made in the best interest of stakeholders. The company’s Board of Directors attributed this decision to the company’s continued positive performance and expected trajectory following its recent US launch.

The journey of Games Global towards its IPO began in mid-April when the company applied for an IPO with shares to be sold under the ‘GGL’ ticker on the New York Stock Exchange. However, the filing to the US Securities and Exchange Commission (SEC) has yet to go live.

Games Global CEO Walter Bugno expressed disappointment at not entering the public markets in the near term but emphasized that the IPO was an accelerator, not an absolute necessity, for their business strategy. He stated that the interactions with investors during the IPO process further cemented their confidence in their strategy and the uniqueness of what they are building at Games Global.

The decision to postpone the IPO is reflected in the range of partnerships undertaken by the business in the year so far. In January, Games Global partnered with online casino operator Rootz and VegasSlotsOnline, and later in the month expanded its partnership deal with bet365. In February, Games Global partnered withand Mr. Vegas to provide the platforms with live casino content from its OnAir Entertainment studio. Most recently in May, Games Global partnered with the UFC to produce a line of UFC-themed slot games.

Games Global has a rich history in the iGaming industry. The company has been at the forefront of providing exclusive games from talented studios and a record-breaking progressive jackpot network. This has helped operators level up and create their perfect lobby. The company’s operations are licensed and regulated in Great Britain by the Gambling Commission and in Malta by the Malta Gaming Authority.

The company’s decision to postpone its IPO is a strategic move that reflects its current business development and the health of its balance sheet. Despite the postponement, Games Global intends to continue monitoring the market for opportunities for a potential IPO launch and additional business development. This decision underscores the company’s commitment to its stakeholders and its confidence in its business strategy.