CasinoPlus, a licensed online gaming provider regulated by the Philippine Amusement and Gaming Corporation (Pagcor), has announced partnerships with seven integrated resort (IR) licensees in the Philippines, including some in Manila. These agreements aim to accelerate the transition of land-based casino operations into the online space, bringing traditional gaming experiences to local patrons through a regulated platform.
Bridging land-based casinos and online gaming:
The initiative is part of CasinoPlus’s strategy to simplify the process for physical casinos to establish online operations. According to Evan Spytma, CEO of CasinoPlus, the company provides the technology, infrastructure, and operational expertise necessary to facilitate this shift.
“What we’re looking to do is basically shorten the amount of time it takes for land-based casinos to go online,” Spytma explained. He emphasized that adapting to the digital format requires expertise and a robust technological framework, areas in which many traditional casino operators lack experience.
CasinoPlus offers a complete package that includes equipment, gaming paraphernalia, and day-to-day operations. This arrangement allows casino licensees to utilize their “online quota” without incurring additional costs. “We introduce them to our players on CasinoPlus, and we share revenue with the casino operator,” Spytma added, though he did not disclose the specifics of the revenue-sharing model.
The partnerships are rooted in the Philippine Inland Gaming Operator(PIGO) license system, which has transformed the country’s gaming industry. Under PIGO regulations, online games must be tied to physical gaming machines or tables within licensed casinos. This setup distinguishes them from conventional online gaming platforms while offering land-based operators an opportunity to extend their reach digitally.
Casino licensees in the Philippines benefit from an additional 25% allocation to their quotas for gaming tables and slot machines when used for online operations. Spytma highlighted the dual advantages of this system, describing it as a “brand-new revenue stream” that also enhances brand recognition.
“Anytime that an online player of CasinoPlus goes to a live version of slots or table games, the brand and logo of the integrated resort will be shown,” he said, as reported by GGRAsia. Additionally, CasinoPlus enables casinos to promote land-based events and offerings to its online players, encouraging crossover engagement.
A booming industry fueled by technology:
CasinoPlus holds a gaming license for its own integrated resort, the Hotel Stotsenberg and Casino in Clark, which is currently under renovation. Located two hours from Manila, the property exemplifies the company’s commitment to both online and land-based operations.
The rapid growth of online gaming in the Philippines has significantly boosted the local gambling industry. Pagcor data shows that the electronic gaming segment was the highest-performing sector for the quarter ending September 30, generating gross gaming revenue (GGR) of PHP35.71 billion (approximately $605.1 million). This represents a staggering 464.4% increase compared to the same period the previous year.
Pagcor Chairman and President Alejandro Tengco has also predicted that GGR for the Philippines will surpass $6 billion in 2024, setting a new record. Tengco attributes much of this growth to advancements in technology and the widespread adoption of smartphones, which have made gaming more accessible and convenient. “The future of gaming will be online,” he said, emphasizing the potential for continued innovation in the industry.
CasinoPlus aims to position itself as a key player in this evolving landscape by bridging the gap between traditional and online gaming. Through its collaborations with Philippine casino licensees, the company is not only expanding its reach but also helping land-based operators capitalize on the growing demand for digital gaming platforms.
The CEO envisions the platform becoming a comprehensive network where online players will eventually connect directly with individual casinos. “Casinos can actually do promotions to CasinoPlus players, even land-based promotions, which would eventually bring in those players to their property,” Spytma stated.
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Vanja Mitic 2024-12-27 14:12:02
