Playgon Games announces Q3 milestones

October 25, 2023 11:12 AM
Photo: Playgon
  • Mark Keast, CDC Gaming Reports
October 25, 2023 11:12 AM
  • Mark Keast, CDC Gaming Reports
  • British Columbia

Vancouver-based Playgon Games Inc., an SaaS technology company that delivers mobile live-dealer technology to online-gaming operators across the globe, has announced key milestones for Q3 2023 (ending in September). A statement reported their quarterly wagering turnover increased by 10 percent to $449million in Q3 from $409 million in Q2 2023. The company’s average daily wagering turnover increased to $4.9 million in Q3 from $4.5 million in Q2 2023 (a 9 percent increase). Over three quarters of player wagering activity in 2023, Playgon’s live-dealer tables have handled around $1.2 billion in wagers, a 72 percent year-over-year increase. Playgon is publicly traded.

Their current software platform includes live-dealer casino, e-table games, and B2B turnkey solutions for online casinos, sportsbook operators, land-based operators, media groups and big database companies.

“Our sales and integration pipeline continues to be strong and our business continues to scale. The industry remains strong and Playgon is well positioned to participate in the ongoing growth. We look forward to announcing, new games, new markets and new partnerships soon,” said Darcy Krogh, CEO of Playgon Games Inc., in a statement.

A spokesperson from Playgon told CDC Gaming Reports they haven’t announced the licensed Canadian operators that have engaged with the company, but the operators they’re going live with in Ontario are licensed in other jurisdictions as well. “The Ontario gaming industry is too big not to be part of,” the spokesperson said. At this time they are not working with any lotto corporations.

The Ontario numbers bear that out. In the just-released Q2 FY (2023-24) market-performance report, Ontario saw $14.2 billion in total wagers in Q2. The total handle doesn’t include promotional wagers (bonuses). That’s up from $14 billion in Q1 (April 1-June 30, 2023).

Ontario earned $540 million in total gaming revenue in Q2, down from $545 million in Q1. Total gaming revenue comprises total cash wagers, including rake, tournament, and other fees, minus player winnings derived from cash wagers. That number doesn’t take into account operating costs or other liabilities.

More specifically, in Q2, casino games (slots, live and computer-based tables games, and peer-to-peer bingo) accounted for almost $11.9 billion (84 percent) of total wagers and 75 percent ($407 million) of gaming revenue.
Betting on sports and esports as well as proposition and novelty bets accounted for $1.9 billion (13 percent, down from $2 billion, and 14% in Q1) of total wagers and $118 million (22 percent, down from $138 million, or 25 percent) of gaming revenue.

Peer-to-peer poker accounted for $397 million (3 percent) of total wagers and $16 million (3 percent) of gaming revenue and increase from $350 million of total wagers and $15 million of gaming revenue in Q1.