The latest regulation trends: Issue of debate at SIGMA Virtual Roadshow-Manila

Joe Pisano and Loren Stout talked about the Asian market, and how the COVID-19 impacted in the region, among other issues. In this article, we present some statements on the matter:

PIGO market

Pisano: "We know there are several operators here in the Philippines that want to enter into the PIGO market and they are looking at different revenues and technologies at the moment to see how they enter into that market."

Loren Stout then affirmed: "It is important that the regulator has understood that revenues are down on landbased casinos and to help us to look a little bit locally. I think the benefit would be to regulate the potentially black markets that might exist, and help localized businesses.

Online gaming

Joe Pisano: "There has been a tremendous growth in the online industry not only here in the Philippines but internationally, and the PIGO concept is not something that is restricted to the Phillipine market. PAGCOR has been the first regulator here in Asia to take the initiative to look at how to look at how to solve the problem of continuing business while we are in a pandemic, and you know, I believe whether is during the pandemic or well after, it could be a great marketing tool for landbased casinos."

Have land-based casinos pushed against PIGO legislation?

Joe Pisano: "No, the landbased casinos wellcome it. Others from other jurisdictions have also been asking about what we are doing here in Manila. They see the online as a continuance of their business when there is a pandemic."

Loren: "The convergence that we are seeing here within our industry, not only in Asia but globally between online and landbased casinos is a natural step during a pandemic such as COVID-19. I think a lot of landbased operators understand the potential and the opportunities there in the online world, but they haven´t had the ability nor the reason to pursue that."

"Now, I think, with the understanding of the regulators and the understanding of the businesses and the shareholders and the stakeholders within the landbased casinos, I think the convergence question has certainly have online and landbased has had more positive answers rather than it had before the pandemic.

"If you look at the online offerings that we've had traditionally, with live table games thoughtout our markets here in Asia, it has had very good services in a very competitive market. Now, something about landbased casinos, particularly in the Philippines and Cambodia, the slot machine play and the revenue that casinos make from that is quite substantial in terms of gross revenue for the property.So it is an under-services market in terms of offering that machines to existing players.

"What this opportunity provides to companies like Dragon Points Live is really the ability to answer a question for the landbased casinos in order to bring them the ability to provide slot machines to their customers, and to utilize the existing capital in order to generate revenues. There are lots of opportunities from the slot machine standpoint.

"Slot players also understand the integrity of having a licenced slot on a licensed casino in a licensed jurisdiction, so they are more comfortable with the jump from landbased to online gaming.

"Philippines is really the only place in Asia where we do have online jurisdictions and regulations, and it has become a benchmark for other countries around the region who might want to start with online gaming."

Joe Pisano: "Legislation is a massive milestone for the industry, and PAGCOR showed the initiative to do what other jurisdictions have been wanting to do for some time. We work with other jurisdictions and are getting inquiries from other governments in order to know how to take their landbased casinos to online."
Special regulations

"The same regulations that apply to a landbased casino, apply to online. Online has to be well regulated and must have certifications in place," Pisano concluded.