PAGCOR revenue continues to grow
The Philippine regulator PAGCOR revealed its revenue continues to grow as it raked €1.35 billion from gaming during 2019, 11.6% higher than 2018’s.
Philippines.- The gaming industry continues to perform very well in the Philippines, according to the local regulator. PAGCOR revealed revenue from the industry reached €1.35 billion during 2019, 11.6% higher than 2018’s.
“Among the biggest sources of Pagcor’s gaming revenues are slot machine operations,” the regulator said. “(Also) electronic bingo, table games operations, regulatory fees from the Philippine offshore gaming operations and fees from licensed casinos.”
PAGCOR expected revenue to reach around €1.1 billion, which means it exceeded its original projections.
Online gaming
As they had already advanced, Philippine authorities want to slow down the iGaming segment. They won’t issue any more permits, in order to prevent the industry from an “overburden”.
The Philippines keeps growing and online gaming isn’t the exception, that’s why PAGCOR took action.
At the last G2E Asia, PAGCOR chairwoman Andrea Domingo explained the decision. “We don’t want to overburden the industry by blatantly giving out licenses,” she said. “The President declared a ban on IRs and casinos in January 2018 and we have observed that.”
“Even in Clark, we have stopped acceptance of any applications for new casinos,” she added.
