Casinos now level-pegging with E-Games in terms of revenue

PAGCOR, the Philippine casino operator and regulator, saw a dip of 15.9 per cent in its first quarter earnings to US$1.42bn, with new regulations hampering the E-Games segment.

The electronic gaming sector, which comprises E-Games, E-Bingo, bingo and poker, fell by 22.4 per cent to US$647m, with casinos generating US$722m, accounting for just over half the sector’s revenue.

PAGCOR-owned casinos generated US$51.4m, accounting for 3.62 per cent of the total revenue

PAGCOR Chairman and CEO Alejandro H. Tengco said: “We attribute the first quarter dip to several factors, including softer discretionary spending amid geopolitical tensions in the Middle East and rising inflationary pressures. We remain hopeful that once the geopolitical tensions stabilize, consumer confidence and discretionary spending will also gradually recover, which should help support improved industry performance.”

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