PAGCOR’s chairman believes that illegal gambling has grown because of high taxes charged by the regulator.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0Alejandro Tengco<\/strong>, chairman and CEO of the\u00a0Philippine Amusement and Gaming Corp (PAGCOR)<\/strong>, has revealed plans to reduce the government’s share in casino revenues from the current 42.5 per cent to 37.5 per cent by March, with a target of 30 to 32 per cent by next year.<\/p>\n\n\n\n During an interview with The Inquirer, Tengo said the aims was to enhance competitiveness and curb the rise of illegal gambling<\/strong>. The regulator estimates monthly losses of about PHP1bn (US$17.8m) to unlicensed online casinos<\/strong>.<\/p>\n\n\n\n Tengco said that since PAGCOR reduced its share of revenue from online casinos to 42.5 per cent there have been fewer closures in the sector. Tengco also said he believes the ban on online cockfighting (esabong) should be lifted and the activity properly regulated.<\/p>\n\n\n\n Tengco said last week he expects\u00a0Philippine gross gaming revenue (GGR)<\/a>, including non-casino operations, to reach PHP336.38bn in 2024. PAGCOR’s chairman said\u00a0e-gaming is expected to contribute PHP61.75bn this year<\/a>. PAGCOR is preparing\u00a0to launch its own online casino<\/a>, casinofilipino.com, in the second half of this year.<\/p>\n","protected":false},"excerpt":{"rendered":" PAGCOR’s chairman believes that illegal gambling has grown because of high taxes charged by the regulator.<\/p>\n","protected":false},"author":176,"featured_media":777008355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR plans to reduce the government's revenue share from casinos from 42.5% to 37.5% by March, targeting 30-32% next year, to enhance competitiveness and combat illegal gambling. Chairman Alejandro Tengco also advocates for regulating online cockfighting and projects significant GGR and e-gaming contributions for 2024, alongside PAGCOR's own online casino launch.","focusai_entities":"Alejandro Tengco, Philippine Amusement and Gaming Corp, PAGCOR, The Inquirer","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.8), operator_casino (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on GGR","query":"What is the projected impact of PAGCOR's revenue share reduction on the overall Gross Gaming Revenue (GGR) growth trajectory for licensed operators in the Philippines over the next 12-24 months?"},{"label":"Illegal Gambling Strategy","query":"Beyond revenue share adjustments, what specific enforcement and technological strategies will PAGCOR implement to effectively curb the estimated PHP1bn monthly losses to unlicensed online casinos?"}],"footnotes":""},"categories":[157,16333],"tags":[405],"class_list":["post-777012522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777012522"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012522\/revisions"}],"predecessor-version":[{"id":777012553,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012522\/revisions\/777012553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777008355"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}