Online gambling to boost Philippines revenues

New licenses granted by PAGCOR are set to boost the state regulator’s revenue.

Philippines.- Andrea Domingo, chairman of the Philippine Amusement and Gaming Corporation (PAGCOR), said that the new online gambling licensees will boost the revenue to US$1.3 billion this year.

During the ASEAN Gaming Brief Summit the official announced that 2016 was the best year of the corporation since they reported US$1.1 billion in gross income. The almost 17 percent growth was due to a better and improved market, as well as new methods that allowed the gaming corporation to achieve an historic income. “Adding to this advantages, are the fact we have introduced many innovations. For example, instead of random sampling of our managerial and enforcement activities, we have strengthened this. We now have 24-hr, seven days a week presence, this yielded us P8 billion more in 2015,” she said.

Domingo believes that this year they can achieve better results since they started granting online gambling licenses: according to her, several international operators are waiting to get a license from Philippine Offshore Gaming Operators (POGO). She also quoted a study reported by Research and Market, which establishes that casinos are expected to grow 9.9 percent in the next three years: “Their study revealed that the integration of the tourism and hospitality sectors became the key trend which propelled the growth of the Philippine gaming sector. With the onset of integrated resort casinos at the Entertainment City, the Philippines is becoming at par with its regional counterparts.”