The first quarter of 2022 has been fruitful for the Philippines as gross gaming revenue has grown by 29.6% compared to the same period last year. Results showed that the country’s land-based gambling operations generated a total of PHP30.02 billion ($572.49 million). The Lift on COVID-19 Restrictions Helped the Philippine Gambling Industry a Lot COVID-19 […]
Philippines state-owned Amusement and Gaming Corporation (PAGCOR) registered a significant drop in its first quarter 2022 earnings from gaming operations to PHP11.29 billion ($225.8 million), reported Asian gaming specialist media Inside Asian Gaming. Q1 2022 Generated One Third of Q4 2021 The regulator’s income for the three months ended March 31, 2022, represented an increase […]
The COVID-19 pandemic has had an impact on the Philippines and its vibrant offshore gaming industry. A total of 22 Philippine Offshore Gaming Operators (POGOs) were shut down last week with the assistance of PAGCOR, the country’s gaming regulator, with the watchdog citing the global health crisis as the reason behind its decision. This was […]
The Philippines has stuck by its gambling industry and it has all paid off. PAGCOR, the country’s gaming regulator, has contributed an estimated $115 million in cash dividends to the National Treasury in 2021, making it one of the biggest taxpayers. President Rodrigo Duterte, a hardliner against all vice, has shown surprising leniency in championing […]
Suncity Group has been deemed as unsuitable to hold a license to operate Philippines junkets after an investigation in which customers were complaining about the company withholding funds from them. This represents the culmination of the investigation that was launched by PAGCOR back in August 2021. The Evidence Was Substantial According to the Gaming Regulator […]
Easing COVID-related restrictions resulted in an increase in gross gaming revenue (GGR) for the gaming industry in the Philippines. Judging by recent figures released by PAGCOR, the Philippine Amusement and Gaming Corporation, the industry is on its way to rebound, after seeing GGR for the calendar year (CY) 2021 surpass $2 billion. Philippine Industry on […]
The Philippines has been recovering quickly from the pandemic, or so the country would like to believe. After announcing that international travel will be resumed and foreign tourists will be allowed back into the country earlier this month, the government has taken another definitive step towards the normalization of daily lives. Part of this is […]
Back in December 2021, a catastrophic tropical cyclone dubbed Typhoon Odette struck the Philippines. Odette left thousands of residents without a home and access to water or food during Christmas and New Year. But casinos in the country did not hesitate and immediately stepped up to help the victims of the typhoon. PAGCOR Helps Typhoon […]
Gambling revenue in the Philippines is back on the up as the third-quarter results have restored some confidence in the market. The Philippine Amusement and Gaming Corporation (PAGCOR), which regulates and controls gambling in the country, has reported revenue of $538 million in the quarter, factoring in PAGCOR’s own venues, third-party license holders, and non-categorized […]
In September, it transpired that POGOs or Philippine Offshore Gaming Operators had shorthanded the state budget by $28 million. Now, the Philippines’ Anti-Money Laundering Council (AMLC) is taking action against two of the 36 licensed POGOs, which have failed or outright refused to meet compliance checks as demanded by regulation. The watchdog has singled out MG Universal Link […]
