Asia
PAGCOR Net Income Down 87% in 2021
The Philippine Amusement and Gaming Corporation’s (PAGCOR) net income down nearly 87% to $3.9 million in 2021 as lockdowns continued to restrict casino operations.
The Philippines casino industry was severely hit by the Covid-19 pandemic, with lockdowns and preventive measures still in place during the last year. In comparison, PAGCOR posted $30.3 million in 2020.
The corporation’s total income net of gaming of taxes and contributions settled at $359.3 million last year, down by 9.4% from $396.7 million in 2020. Moreover, expenses, which include contributions to the national government, reached 349.7 million, down 4.48% from 2020.
PAGCOR Chairman Andrea Domingo said that the significant drop in net income was attributable to the Covid-19 pandemic, and the absence of non-gaming revenues. Moreover, the closure of some Philippine Offshore Gaming Operators (Pogos) also contributed to the income decline.
“The Pogos missed their target by almost 20% for lack of manpower, a good number closed down and [were impacted by] the slowing down of the world economy,” Domingo said.
It is estimated that about 32 out of the former 60 Pogos in the Philippines have left the country, most of them having already transferred to other jurisdictions.
The Chairman further revealed that, due to the drop in revenues, there will be fewer funds to contribute to government programmes, including Universal Health Care. In comparison, 2020 proved to be a better year for the state-run corporation as PAGCOR was able to accumulate savings from the first three months of the year, in which casinos were in full operation.
Along with results for full-year 2021, the gaming regulator also reported income from gaming operations for Q4 2021. For the three months to 31 December 2021, PAGCOR reported an income of $638.9 million, up 8.8% from the same period the prior year, and up 46.5% from the prior quarter.
Asia
Macau Government Extends Lottery Concession of Macau Slot Until 5 June 2026

The Macau government has extended the lottery concession of Macau Slot Co Ltd for one year until 5 June 2026.
The concession renewal was published in the official gazette on Wednesday. Further extensions may be granted, subject to mutual agreement between the Macau government and Macau Slot.
As part of the renewal terms, Macau Slot is required to gradually reduce its number of non-resident employees and actively collaborate with the government to recruit and retain local talent.
Earlier this month, the government held a meeting with Macau Slot representatives to discuss the extension. According to the Gaming Inspection and Coordination Bureau (DICJ), the city’s industry regulator, Macau Slot committed to cutting 35% of its non-local, non-skilled workforce—equivalent to 26 positions—by the first quarter of 2026. The company also pledged to make further reductions to its foreign labour quota in the future. Currently, non-local staff account for 15% of the total workforce at Macau Slot.
“Over the past year, despite fluctuations in the macroeconomic environment and slower economic recovery in neighbouring regions, the local economy has remained relatively stable under the guidance of the Macau SAR government’s policies,” Macau Slot said in a statement.
“Looking ahead, we are committed to further diversifying our sports betting products to meet customer demand, while upgrading our information technology infrastructure to stay current and deliver more comprehensive sports betting services.”
The post Macau Government Extends Lottery Concession of Macau Slot Until 5 June 2026 appeared first on European Gaming Industry News.
Asia
QTech Games strengthens its elite suite with Bigpot Gaming

Emerging-markets leader expands its all-encompassing library with exciting new slots portfolio
The post QTech Games strengthens its elite suite with Bigpot Gaming appeared first on European Gaming Industry News.
Asia
Polemos Announces Partnership with Guinevere Capital

Polemos, a Web3 gaming infrastructure platform, has announced a strategic partnership with Guinevere Capital, a prominent esports and gaming investment firm known for its investments and advisory roles in projects such as GiantX, iTero, Perion, Skybox and various other projects across the industry. Guinevere Capital has established a strong reputation for its work across global Web2 gaming titles, including League of Legends, Valorant, Rocket League and many more. This partnership aims to leverage the combined expertise of Polemos.io and Guinevere Capital to enhance and further monetise audiences across publishers, infrastructure players, gaming companies, studios and platforms.
The collaboration will focus on integrating advanced asset management and engagement tools from Polemos.io’s Forge platform with Guinevere Capital’s extensive network and experience in both Web2 and esports ecosystems. This will create new monetisation opportunities and improve player experiences by bridging traditional gaming with blockchain-enabled innovations.
Carl Wilgenbus, CEO of Polemos.io, said: “Partnering with Guinevere Capital marks a significant milestone in our mission to expand access to gaming rewards and unlock new revenue streams for the entire gaming industry. Together, we will empower publishers and studios to better engage their audiences and capitalize on the evolving landscape of gaming and esports.”
“Polemos has built an impressive piece of infrastructure that has plugged a huge gap in the gaming sector. We look forward to working with them to commercialise this,” said Dave Harris, a partner at Guinevere Capital.
Dave’s previous experience includes investing in and operating top teams and leagues in the Riot Games and Activision Blizzard ecosystems.
Guinevere Capital’s strategic involvement will accelerate the adoption of blockchain gaming infrastructure while supporting the growth of esports and gaming communities worldwide. This alliance underscores a shared vision to drive innovation, education and monetisation in the gaming sector by combining Web2’s reach with Web3’s potential.
The post Polemos Announces Partnership with Guinevere Capital appeared first on European Gaming Industry News.
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