Philippines’ PAGCOR bets on online casinos to attract offshore gamblers

The Philippine Amusement and Gaming Corp (PAGCOR) is trying to grow its pool of customers and lure in rich offshore gamblers by becoming a part of the lucrative online gaming world by launching its own e-gambling operations next year.

Gambling activities are legal in the Southeast Asian country. The gaming regulator earned a whopping $293 million in 2022 from its 41 physical casinos, bringing the Philippine gambling industry a substantial gross gaming revenue of $3.9 billion.

Online gaming presents a huge opportunity as it allows the regulator to tap into new markets and diversify its customer base, PAGCOR Chairman Alejandro Tengco mentioned at the SiGMA Asia gaming conference.

PAGCOR is a government-owned and controlled corporation under the office of the Philippine president. A boost in the revenues of the regulator is beneficial for the country too as the bulk of its earnings form part of the national budget.

Keep Reading

The plan to take a slice of the multi-billion dollar online gaming industry follows PAGCOR’s decision in 2020 to allow integrated casino-resorts operating in the country to take online bets to better cope with the COVID-19 pandemic that had brought almost everything to a standstill.

The Philippines has 32 legally operating offshore gaming companies that cater mostly to Chinese clients. The gambling scene in the capital Manila, which includes a smaller version of the gaming strip in Las Vegas, attracts high rollers from China, South Korea and Japan.

Tags: PAGCOR
Katherine S

1/4 German, 3/4 Malaysian. I write, follow and monitor closely political news happening in Malaysia, and other happening news in the ASEAN region. Newswriter for the best ASEAN news website - The Asian Affairs.

Recent Posts

China and UAE Celebrate 40 Years of Diplomatic Relations: All the Sectors for Partnership

Celebrating 40 years of diplomatic ties, China and the United Arab Emirates (UAE) are poised to fortify an alliance that…

November 2, 2024

What’s in Store for Squid Game Season 2: New Twists, International Adaptations, and a Bold Return to the Games

Fans of the worldwide sensation Squid Game have much to look forward to this December as the show's producer, Hwang…

November 2, 2024

TWICE Joins Coldplay’s ‘Music of the Spheres’ Tour for a Seoul Spectacle in 2025

Especially when it's the internationally known British rock band Coldplay linking up with K-pop phenomenon TWICE, few events match the…

November 2, 2024

China Caught in the Crossfire: Tensions Rise as North Korea and Russia Strengthen Alliance

Tucked on a 12-story structure in northeast China, visitors flock to get a rare view of the junction of their…

November 2, 2024

Could Westeros Dragons Soon Soar into the Big Screen? ‘Game of Thrones’ Film Reportedly in Early Development

HBO's Game of Thrones has created a void in the fantasy world of television that no other show has quite…

November 1, 2024

Preparing for U.S. Election Impact: Sen. Imee Marcos Urges Self-Reliant Defense Amid Uncertain Times

Head of the Senate Committee on Foreign Relations, Senator Imee Marcos underlined the need of the Philippines getting ready for…

November 1, 2024

This website uses cookies.

Read More