Operator News
Philippines – PAGCOR records a strong year following better ties with China
By Phil - 15 January 2018
PAGCOR, the Philippine gaming regulator and operator, said its revenue increased by almost ten per cent in 2017 with improved links to neighbouring countries, most importantly with China, boosting arrivals in the country and subsequently driving gaming revenue as well.
PAGCOR CEO Andrea Domingo said gross gaming revenue came in at P59.8bn last year, marking an increase of nine per cent.
Overall, the Philippine gaming industry’s 2017 GGR surpassed ‘P170bn’ on predictions of P160bn.
The biggest share of PAGCOR’s total GGR was generated by PAGCOR-operated casinos, which accounted for P22.44bn. A further P19.27bn came from licensed casinos’ fees; P9.45bn from bingo and e-bingo licensees; P5.50bn e-games, poker, and junket operations and P3.14bn from offshore gaming.
PAGCOR Chairman and CEO Andrea Domingo said: “Although the biggest chunk in the agency’s revenues still comes from PAGCOR-operated casinos, the licensed casinos also contributed significantly,” she said.
“In 2017, PAGCOR posted close to P60bn in gross revenues. Of this amount, the biggest portion (P22.44bn) came from PAGCOR-operated casinos. It was followed by the P19.27bn income from licensed casinos’ fees; P9.45bn from traditional bingo and e-bingo licensees; P5.50bn from PAGCOR’s share from other gaming licensees such as e-games, poker, junket operations, among others and P3.14bn from offshore gaming operations,” she explained.
Apart from the huge revenues from licensed casinos, the PAGCOR chief said that all integrated resort casino licensees are required to put up a Cultural Heritage Foundation to fund Corporate Social Responsibility (CSR) programs related to education infrastructure, health facilities, environmental preservation and restoration of cultural heritage. Two percent of the licensees’ gross gaming revenues from non-junket tables automatically go to these Foundations.
Domingo likewise cited that major projects were already implemented by the Foundations of Entertainment City licensees.
“Because of their CSR commitments, several multi-storey school buildings and computer laboratories were built in far-flung public schools. Two drug rehabilitation centers – one in Davao and one in Camp Bagong Diwa in Taguig – are being constructed. Also a public hospital in Tacloban and two multi-storey barracks for the Philippine Military Academy cadets were built – just to name a few,” Domingo said.
Meanwhile, casino licensees in other locations such as Clark have also set aside funds for their own foundations and CSR efforts.
