Daily Asia Gaming eBrief: Fee reduction to help POGO market revamp - Winn Tech COO

Monday 15th of April 2024

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Good Morning. A move in the right direction. Andy Jeon, COO of Winn Tech, believes the lowered fee enhances POGOs' competitiv eness against both land-based casinos and the grey market, which often faces lower taxes. In an interview with AGB, Jeon considered that this reduction aligns with PAGCOR's goal to cleanse the market and incentivize black market players to legitimize themselves. Meanwhile, Genting Singapore dismissed any impact on its business by the warning issued by Chinese authorities for the country’s citizens to avoid gaming in the city-state. As for Macau, the city’s Legislative Assembly unanimously approved a new gaming credit legislation allowing only gaming operators to extend chips to gamblers as credit.

What you need to know

PAGCOR's reduction of licensing fees will enhance the competitiveness of Philippine POGOs, according to an insider.
Non-gaming offerings to shield Genting from possible reduction in Chinese gamblers – Board of Directors.
Legislative Assembly of Macau approves fresh gaming credit legislation, prohibiting junkets from issuing gaming credit solely.

On the radar

The Star records net loss of $4.4M due to absence of high-end players.
Macau illegal gambling law imposes fines for gambling in public places.
Macau’s Tourist Price Index up 4.7% in 1Q24 driven by hotel room rates.
Summit Ascent issues update on Tigre de Cristal and trading suspension.

AGB Intelligence

POGOS

Winn Tech COO: Fee reduction will help POGO market cleanse

The lowered licensing fee enhances POGOs' competitiveness against land-based casinos and the grey market, which often pays less in taxes, Andy Jeon, COO of Winn Tech said in an interview with AGB. This reduction supports PAGCOR's goal of incentivizing black market operators to legitimize themselves, with revised regulations for Internet Gaming Licenses said to strengthen due diligence and compliance checks, emphasizing integrity in online gaming.

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