Industry News
Operators considering Isle of Man switch after POGO tax hike
A significant tax hike for Philippine Offshore Gaming Operators (POGOs) could lead to an influx of companies looking to move to the Isle of Man, according to one industry expert.
Egaming companies in the Philippines are facing a more-than-double tax hike after new rules were signed into law.
POGOs – companies licensed by the Philippine Amusement and Gaming Corporation (PAGCOR) to provide offshore gaming services – will have to pay 5% tax on turnover, replacing the previous 2% gross revenue tax.
Failure to comply could result in companies losing their PAGCOR licences and it seems many companies are exploring other options.
Alex Gardner, director of Isle of Man-based Affinity Group, which supports egaming operators looking to set up in the Isle of Man, said the company had noticed an uptick in enquires.
She said: “The Philippines has historically been a jurisdiction chosen by Asian-facing operators but, following the recent negative press surrounding POGO and more recently the tax increase, we have seen an influx of enquiries from operators who are looking for a suitable licence to either continue or start targeting the Asian market.
“The Isle of Man is perfect for this having developed an international reputation as being a leader in the egaming industry and is already home to some of the biggest Asian facing operators in the world.
“As a company that has helped many start-ups and established companies through the Isle of Man Licence licensing process it is understandable that many operators are considering moving their operations from the Philippines.”
The bill in the Philippines has been signed into law by president Rodrigo Duterte as part of the Bayanihan to Recover as One Act, as the Philippines aims to close gaps in its Covid-19 relief fund.
All 60 licensees were forced to halt operations as part of the Covid-19 lockdown and the government has seemingly taken this opportunity to crack down on companies failing to meet tax obligations. Only 29 have since been granted permission to resume activities.
Filipino politician Franklin Drilon said: “The Bayanihan 2 will more than double the tax collection from POGO, from Php7 billion (US$144.5 million) estimated collection in 2019 to approximately Php17.5 billion (US$361.2 million) this year because of the reforms we have introduced in the measure.
“All revenues from POGO will be used to fund the various types of assistance laid out in the Bayanihan 2 for all sectors affected by the pandemic.”
PAGCOR and the Bureau of Internal Revenue (BIR) said in May that all POGOs and their service providers must fulfil certain prerequisites before being given the green light to resume activity, including settling any outstanding tax liabilities as certified by the BIR, updating payment of any regulatory fees, license fees, performance bonds or penalties owed to PAGCOR, and remittance of all regulatory fees.
The highly anticipated Ortak x B.F.T.H. Arena Awards 3.0 has officially entered the public voting phase as submissions are closed.
More than 70 game providers have turned in over 160 submissions, including Tom Horn Gaming, Pragmatic Play and RubyPlay. Public voting involves enthusiasts casting their votes to pick the winner of the Game of Public Choice category.
The Public voting phase ends on December 1st 23:59 GMT+4.
Concurrent to public voting, the first phase of private voting also starts during which all participants who have submitted entries get the chance to vote for one favourite in each category. An international auditing company oversees this phase to eliminate duplicate votes and self-votes. This phase ends on November 19, 23:59 GMT+4.
The second phase of private voting will also take place with a jury of industry experts making their decisions based on the shortlist picked by participants during the first phase.
The post Public Voting Starts for Ortak x B.F.T.H. Arena Awards 3.0 appeared first on European Gaming Industry News.
Industry News
BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets
Following the frenzy surrounding the 2024 U.S. presidential election, global leading crypto igaming platform BC.GAME has officially announced an exciting airdrop campaign aimed specifically at Polymarket users. This initiative will bring BC.GAME’s gaming entertainment together with the wisdom of Polymarket users, offering a much-needed opportunity for those who actively participated in the election prediction market.
Airdrop Frenzy Amid the Hype: Special Rewards for Polymarket Users
Following the intense activity during the 2024 U.S. presidential election, Polymarket saw an unprecedented surge in user participation. Thousands of individuals placed bets on the election results, turning this prediction market into a major financial event.
To capitalise on this momentum, BC.GAME is launching an exclusive airdrop for Polymarket users. The campaign will reward active participants with exclusive prizes and access to BC.GAME’s expansive gaming ecosystem, creating an exciting opportunity for those who took part in one of the most talked-about prediction markets in history.
Exclusive Airdrop: A Chance to Turn the Tide
The BC.GAME airdrop campaign will offer Polymarket’s active users unique rewards, creating an exciting and unparalleled experience in the crypto gaming space. By leveraging the buzz surrounding Polymarket, BC.GAME aims to bring its innovative gaming ecosystem to more users, giving them the opportunity to earn substantial rewards through this airdrop. Polymarket users will not only enjoy exclusive games on the BC.GAME platform, but also have the chance to claim specially designed rewards. The BC.GAME team guarantees a transparent and fair process throughout the event, ensuring that every participant receives maximum benefits.
BC.GAME: Igniting the Future of Crypto Communities
BC.GAME has always been at the forefront of innovation, providing users with a never-before-seen gaming experience. According to data from 1ml .com, BC.GAME is ranked 14th globally in the crypto gaming space and supports hundreds of cryptocurrencies, including Poly, providing users with diverse payment and gaming options.
In addition, BC.GAME actively participates in the development of the crypto community by investing in NFTs and supporting the growth of the metaverse. For example, BC.GAME has invested 700 ETH into various NFT projects to foster growth in the metaverse and iGaming sectors. By engaging with Polymarket users, BC.GAME is lighting up new possibilities in the crypto world and paving the way for the future of digital entertainment.
The post BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets appeared first on European Gaming Industry News.
Kaizen Gaming, one of the biggest GameTech companies in the world, had an impressive double-win at the SBC Awards Latinoamérica 2024 on the 31st October in Miami, Florida. Awarded ‘Brazilian Market Entrant of the Year’, and ‘Marketing Campaign of the Year’, the two wins follow an impressive year of growth and exposure for Kaizen Gaming, as well as its premium brand Betano, across Latin America and globally.
Betano is rapidly growing its user base and presence in Brazil, serving as the main and title sponsor of Brasileirão Betano and Copa Betano do Brasil. As a founding member of the ANJL and IBJR regulatory bodies, Betano is recognised for its dedication to upholding the highest standards of responsible gaming and integrity. Furthermore, the Betano brand has launched multiple CSR initiatives across the country in partnership with sponsored team, Clube Atlético Mineiro. It also recently launched the “Juntos em Campo” long-term program in cooperation with CBF (Brazilian Football Confederation) to promote initiatives focused on gender equality.
Awarded for the results and creativity of its innovative “Football in America” marketing campaign, Betano successfully introduced Latin America to its “Confia” brand platform by leveraging on its CONMEBOL Copa America
2024 sponsorship. The campaign chimed with the spirit of fans across the continent by celebrating Latin America’s rich football heritage, playfully responding to Kylian Mbappe’s 2022 comments questioning the region’s football quality.
Vangelis Skarkalis, Kaizen Gaming Senior Commercial Director LATAM, said: “Latin America is one of the world’s most dynamic and exciting regions for i-gaming. Being recognised as a leading player in this important market with two wins at the prestigious SBC Awards Latinoamérica is a great honour – especially on the heels of our recent double-win as ‘Operator of the Year’ at both the EGR Operator Awards and SBC Awards. Achieving this success requires an exceptional team of dedicated, ambitious professionals. This award honours everyone’s hard work and commitment to always going above and beyond in delivering the best experiences for our customers not only in Latin America, but worldwide too.”
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