Interblock, PAGCOR continue partnership with renewed agreement

Interblock, PAGCOR continue partnership with renewed agreement

Interblock, PAGCOR continue partnership with renewed agreementInterblock have established themselves as one of the leaders in luxury game manufacturing and electronic table game (ETG) development, so their deal with the Philippine Amusement and Gaming Corp (PAGCOR), the regulator and casino operator, in June 2015 was truly a partnership that benefited both groups. Both sides seem to agree with that assessment, as they have renewed their agreement for the next three years, according to an announcement made on May 16.

It seemed only logical to continue a relationship that has worked well for both. The original deal required Interblock to supply, install, and maintain 192 G5 Diamond play stations that included automated roulette and video baccarat stadiums. By December 2018, the number of seats increased to 204 play stations installed in the 14 casinos operated by PAGCOR.

Explained Interblock’s President of Asia Pacific, Michael Hu:

“The revenue generated from our first installations had increased strongly from month to month through our continuous performance appraisals. It is with great honor that through our partnership with Indepth and PAGCOR and their continued support of our ETG products we have been able to extend the lease agreement for another 3 years, through January of 2019. This is a win-win partnership combination.”

In March, Michael Hu was named to head the Asian-Pacific portion of its operations. This came five months after the company had provided its comprehensive collection of cutting edge BTG solutions at an exhibit at the G2E 2018.

Interblock now does business in over 7000 stations in Asia. This includes recent installations in countries such as Vietnam and South Korea, as well as an increased presence in the Philippines.

PAGCOR has been buoyed by recent reports that they saw a 9.5% profit in the first quarter of 2019. That came courtesy of casino gaming revenues which increased 15.6% from the same period of time last year.

In March, PAGCOR president Alfredo Lim explained that the corporation was looking to greatly expand its market. PAGCOR began regulating the online space relating to gaming in 2016 and was quickly recognized as a no nonsense regulator that expected reporting and regulations to be done properly, especially for those who had been negligent in reporting the proper amount of revenue they had earned. This focus on the rules led to an increase in revenue from PHP3.9 billion ($74 million) in 2017 to a total of PHP7.3 billion ($140 million) in 2018. Clearly, the company has taken both roles very seriously.