Double-digit increase in GGR in the Philippines
The second quarter of the year has brought double-digit increases in revenue in the Philippines to US$1.14 billion, PAGCOR said.
Philippines.- The Philippine Gaming and Amusement Corp (PAGCOR) has released its latest financial report that details operations from the second quarter of the year ended June 30. The local market produced €1.02 billion in GGR in the three-month period.
According to PAGCOR, the €1.02 billion in revenue registered in the second quarter represents a 10.7% increase over the same period a year ago. Licensed casinos generated €899k, which is a 10.6% increase year-over-year. However, the numbers were down when compared to the previous quarter, as casinos generated €903k in the first quarter of the year.
The entity believes that the decline was due to a decrease in VIP revenue. VIP revenue was €226.4 million in the second quarter, down from the €241.9 million registered in the first quarter of the year.
Moreover, PAGCOR also said that a decline in revenue at its licensed casinos contributed to this decrease. Revenue at the facilities was down approximately 4% to €156.4 million in the second quarter.
PAGCOR to set gaming hubs for foreign workers
The gaming governing body is seeking to create “self-contained” communities to get Chinese citizens to “live, work and play.” These communities are aimed at those employed in the iGaming segment and were severely criticised.
However, PAGCOR chairwoman and CEO Andrea Domingo stood by the gaming body plans. She said they are the kind of protection the government would expect Filipinos to get if they worked abroad.
“We value and protect the rights and safety of foreign workers in the country in as much as we want the rights and safety of Filipino overseas workers to be valued and protected,” she said.
“These hubs were conceptualised to respond to and address the concerns which Pagcor management has received over the two years since it has regulated the offshore gaming industry,” the agency assured.
