Gold99 | Modern Technology Drives the Shift Toward Online Gaming
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Alejandro Tengco, Chairman and CEO of the Philippine Amusement and Gaming Corporation (Pagcor), underscored the critical role of technology in shaping the future of the gaming industry. Speaking at the recent “Champion’s Night” event in Manila organized by FBM, a prominent supplier of electronic gaming machines, Tengco stated, “The future of gaming is online.” He attributed this shift to advancements in mobile devices and modern technologies. Notably, he revealed that electronic gaming and bingo operations collectively achieved gross gaming revenue (GGR) exceeding PHP40 billion (approximately USD 679.2 million) in Q3 2024, marking a 236.9% year-on-year increase. For brands like Gold99, this trend signals tremendous potential in embracing the online gaming revolution.
Electronic Gaming Sector Breaks Records in Growth
The electronic gaming industry showcased unparalleled growth in the third quarter of 2024, recording a remarkable PHP35.71 billion in GGR—an impressive 464.4% increase compared to the previous year. Tengco highlighted that this growth reflects the sector’s ability to adapt to a technology-driven market, where players increasingly prefer online formats for their convenience and accessibility. For platforms such as Gold99, these developments open new avenues to attract a broader audience and leverage the growing demand for online casino experiences.
FBM’s Remarkable Growth: From Small Business to Industry Leader
During his address, Tengco praised FBM’s incredible transformation over 22 years. From humble beginnings, the company has risen to prominence with approximately 32,000 gaming machines deployed nationwide, including bingo and casino slots. Earlier this year, FBM launched its online platform, FBM E-Motion, enhancing its presence in the digital gaming sector. Additionally, the company announced a USD 10-million investment in September to establish a state-of-the-art software development hub in Manila. For those tracking innovations in the online casino space, FBM’s success story offers valuable insights into growth and adaptation in a competitive market.
Lower Fees to Spur Growth for Online and Land-Based Operators
Pagcor is introducing significant policy changes to support gaming operators. Effective January 1, 2025, GGR remittance rates will be reduced to 30% for land-based licenses and 25% for integrated resorts operating online platforms. Tengco urged operators to reinvest these savings into marketing initiatives to attract more players and drive GGR growth. “I’m asking you to use this additional discount to attract customers and boost the industry’s performance,” Tengco stated. For businesses like Gold99, this regulatory adjustment presents an opportunity to expand their reach and enhance profitability in both online and on-site segments.
FBM’s Innovation in Online Platforms
FBM’s online gaming platform, FBM E-Motion, represents a pivotal step toward digital transformation in the industry. By addressing modern players’ preferences for convenience and innovation, FBM has set a benchmark for other industry leaders. Tengco applauded the company’s commitment to growth and its ability to deliver cutting-edge gaming solutions tailored to the demands of the digital market. Furthermore, FBM’s investment in a software development hub in Manila demonstrates its dedication to being at the forefront of technological advancements in gaming. For enthusiasts of online casino platforms, this highlights the growing importance of innovation in enhancing user experiences.
The Rising Demand for Online Gaming and Future Outlook
The exponential growth of electronic gaming and online bingo operations underscores the Philippines’ evolving role in the global gaming industry. Tengco’s vision of a tech-driven future aligns with the changing habits of players, who increasingly gravitate toward digital platforms. As operators embrace online gaming formats, the industry is poised for sustained growth. For Gold99 and similar platforms, this transition presents an exciting opportunity to lead in offering innovative, accessible, and engaging gaming solutions.
Conclusion
The gaming industry is at a turning point, with online formats leading the way. With contributions from industry leaders like Pagcor and FBM, the Philippines is emerging as a hub for digital gaming innovation. Lower fees, technological advancements, and a growing online audience pave the path for platforms such as Gold99 to thrive. The future of gaming is undoubtedly online, promising a dynamic and prosperous landscape for operators and players alike.
Gold99 online gaming platform
For brands like Gold99, this trend reflects the massive growth potential for online gaming platforms catering to diverse player needs.
online casino market growth trends
The online casino market growth trends showcased by Pagcor’s recent report underline the industry’s shift toward digital formats, making it an exciting prospect for platforms like Gold99.
Philippines online gaming industry
The Philippines online gaming industry has emerged as a significant player globally, thanks to innovations from brands like FBM and platforms such as Gold99.
