Playgon Games’ wagering turnover makes sizeable leap in Q3

The games developer previously announced significant revenue growth in August

Playgon Games has announced several key player milestones for Q3 2023 as the Vancouver-based games developer targets continued growth.

The firm, which received AGCO approval to enter the Ontario igaming market in August, announced the results of its latest quarterly report on Tuesday, with headline figures including a 10% rise in quarterly wagering turnover, from $409m in Q2 to $449m in Q3.

Average daily wagering turnover also increased to $4.88m in Q3 from $4.49m in the prior quarter, representing a 9% increase.
“Our sales and integration pipeline continues to be strong, and our business continues to scale,” noted Darcy Krogh, CEO of Playgon Games.

“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.”

Furthermore, Playgon Games reported that through three quarters of player wagering activity in 2023, its live dealer tables have accommodated approximately $1.2bn in wagers compared to the same period in 2022 of $697m, representing a 72% YoY increase.

The games developer previously posted substantial revenue growth in its Q2 report in August.

Meanwhile, the firm also announced that it has completed its shares for debt transaction as previously on July 12.

As part of the transaction, Playgon Games issued an aggregate of 32,045,130 common shares of the company in full and final settlement of $2,243,159.04 in aggregate debt representing short term loans, various trade payables and certain board fees that were due and payable.

Of the 32,045,130 common shares that were issued, an aggregate of 10,347,494 common shares were issued to related parties of the company. All of the common shares were issued at a deemed price of $0.07 per share.

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