Casino Gaming News Philippines

Posted : admin On 4/15/2022
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  1. Gaming stocks rose. The Philippine Amusement and Gaming Corp. Has approved the application of Bloomberry Resorts Corp. ’s Solaire Resort and Casino, president Alfredo Lim said in mobile-phone.
  2. The PAGCOR-licensed privately-run casinos in Manila’s Entertainment City gaming zone reported revenue of nearly P33.5b in Q1 2020, down from P39.8b last year, reflecting the mid-March closure of.
  3. The Philippines has allowed a land-based casino to accept bets online and is reviewing two other requests in a move that could help operators mitigate losses from the pandemic. Gaming stocks rose.
  4. The Philippine Amusement and Gaming Corporation (PAGCOR) is the Philippine Government body, founded in 1976, that has the responsibility for governing the casino industry. PAGCOR is 100% owned by the Philippine government, and is a controlled corporation under the Office of the President of the Republic of the Philippines.

The casino gaming market in the Philippines to grow at a CAGR of 9.93% during the period 2016-2020. Casino Gaming Market in the Philippines 2016-2020, has been prepared based on an in-depth market.

Metro Manila (CNN Philippines, March 15) — The Philippine Amusement and Gaming Corporation (PAGCOR) on Sunday ordered the suspension of all casino and other gaming operations in Metro Manila amid the increasing threat of coronavirus disease or COVID-19 in the country.

Land-based casinos, electronic games, bingo, sports betting, poker, and slot machine clubs operations will be suspended immediately. PAGCOR said the order will remain until the duration of the community quarantine imposed on Metro Manila.

PAGCOR said Philippine offshore gaming operations (POGO) will remain, but with limitations. The state-run agency said only a minimum number of workers will be allowed in their workplaces. Latest available government data show that POGO service providers have about 108,914 employees.

The rest of POGO workers will be restricted to their living quarters where they will observe social distancing and quarantine protocols, PAGCOR said.

'PAGCOR believes in the seriousness of the COVID-19 situation. Hence, it supports the government’s extreme effort in containing the virus. For its part, the state-run gaming agency has decided to prohibit public gatherings in its gaming venues and in the licensed gaming properties that it regulates,' it announced on its Facebook page.

It added that operations of PAGCOR properties will likewise be suspended in areas outside Metro Manila if the local government declares a community quarantine.

Casino gross gaming revenue in the Philippines rose by 15% year-on-year in the second quarter of 2017, to PHP39.15bn (US$759.4m), according to data from the country’s regulator the Philippine Amusement and Gaming Corp (Pagcor).
In the April-June period, revenue from electronic gaming sites, which includes traditional bingo, electronic games and sports betting, generated over PHP6.17bn. This figure combined with revenues from casinos results into an aggregate national GGR of PHP45.31bn, up by 10% in the three months ended on 30 June.
GamingThe official publication of the Q2 numbers this week, which marks the first time the regulatory body Pagcor releases financial figures since November 2016, meant the Philippines casino junket market’s GGR tally for the first six months of 2017 stood at PHP21.79bn, representing 28%, whilst non-junket recorded 38% of the total.

Casino Gaming News Philippines Latest

Aside from the state-run casinos, the private-sector resorts in Manila posted an overall GGR of PHP28.48bn in the second quarter, an impressive increase of 25.9% compared to the same period last year. The four private casinos based exclusively in the Philippines capital of Manila - City of Dreams Manila (Melco Resorts and Entertainment Ltd), Solaire Resort and Casino (Bloomberry Resorts Corp), Resorts World Manila (Travellers International Hotel Group Inc) and Okada Manila (Tiger Resort, Leisure and Entertainment Inc ) – recorded the majority of junket-generated GGR.

Casino Gaming News Philippines 2020


Casino Gaming News Philippines 2019

This financial update comes shortly after the Philippine Finance Secretary Carlos Dominguez revealed last month that the government is reported to sell 17 casinos currently managed by Pagcor. Following the announcement, Bloomberry’s Chairman and Chief Executive, Enrique Razon, said his firm would be interested in acquiring some regional casino operations from Pagcor.