PAGCOR reveals big loss after casino close

PAGCOR reveals big loss after casino close

Gaming regulator losing between US$98 million to US$118million per month in revenue during Coronavirus lockdown.

Philippines.-  The Philippine Amusement and Gaming Corporation (PAGCOR) is losing tens of millions of dollars per month after it closed all POGOs and their service providers due to Coronavirus. 

According to Inside Asian Gaming, the gaming regulator says it is losing between US$98million to US$118million per month in revenue while the nation’s casinos remain closed, but reiterated its commitment to providing financial support in response to the pandemic.

PAGCOR announced last week the suspension of all gaming operations in Manila until April 12 after President Rodrigo Duterte imposed a “community quarantine”.

The suspension applies to land-based casinos, both PAGCOR-owned and operated as well as all licensed and integrated resort-casinos, electronic game (eGames), bingo (traditional and electronic), sports betting, poker and slot machine clubs, and other activities regulated by PAGCOR.

“The state-run gaming agency has decided to prohibit public gatherings in its gaming venues and in the licensed gaming properties that it regulates,” PAGCOR said.

“This measure is intended to ensure the safety of both gaming employees and customers and eventually, the general public,” the regulator added.

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