Play’n GO Gets Market Entry into the Philippines
The Philippines gambling market is growing at a rapid pace even though there are a limited number of top gaming software developers who have access to the market.
That is slowly changing as Play’n Go will now have access to one of the fastest growing gambling markets in Asia.
Play’n GO which is based out of Malta recently announced that it just received approval from the local gaming regulator, the Philippine Amusement and Gaming Corp (PAGCOR) to operate in the Philippines.
This is a big move for the software developer and is expected to bring significant revenues to the company.
In a statement, Johan Törnqvist, Play’n GO CEO, said
We have a strong presence in regulated markets, and that continues to grow as we expand in both size and standing in the industry. This authorisation opens up a wealth of new opportunities for us in the region and fits perfectly with the strategy that we plan to implement in the coming future.
Play’n GO has an impressive portfolio when it comes online casino games. The company has been in operation since 2005 and has come out with some great games over the years which include “Raging Rex” and “Cash Vandal“.
The company only operates in four countries right now: Italy, Denmark, UK and Sweden. Play’n Go will now be able to tap into the Philippines which will help boost its brand presence and allow a new demographic to try out its games.
Philippines Cracking Down
PAGCOR’s approval is a good sign. The gaming regulator is noted for being very strict and is focused on ensuring that the Philippines gambling market’s regulations are properly enforced. Currently, the regulator is in the middle of a campaign to eliminate unregulated gambling operations in the country.
In 2018, the regulator announced huge penalties for any online gambling operator offering its services in the country without approval. It has pointed out that any operator who wants to open up shop in the country will need to apply and get a Philippine Offshore Gambling Operator (POGO) license. This license is offered by PAGCOR to offshore gambling operators.
Gambling operators have more than one reason to come to the Philippines. Not only does it open up a lucrative local market but it also positions them to target the Chinese gambling market. This has provided a small boost to the Philippine economy with 30 percent of new offices in Metro Manila being occupied by Chinese gambling firms.