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Tag Archives: PAGCOR

Philippines – New projects to see Philippine gaming revenue surpass Singapore’s

Foreign and domestic investment of $6bn and the opening of up to nine new casino resorts should see the Philippines’ casino sector reach GGR of $8bn to $9bn by 2027, taking it ahead of revenues generated by Singapore’s casino sector. This year, licensed casinos from the Entertainment City, Metro Manila, Clark, Cebu and the Fiesta…

Philippines – PAGCOR’s gross gaming revenues hit record US$5.1bn in 2023

The Philippine Amusement and Gaming Corporation (PAGCOR) has confirmed that the country’s gross gaming revenues (GGR) in 2023 reached a record Php285.27bn (US$5.11bn) breaching pre-pandemic levels and paving the way for more robust growth in the coming years. PAGCOR Chairman and CEO Alejandro H. Tengco said the new GGR record is 11.22 per cent higher…

Philippines – PAGCOR lays out timeline for sale of its casinos

The Philippine Amusement and Gaming Corporation (PAGCOR) is planning to privatise 45 of its casinos by the third quarter of 2025. Speaking at the House of Representatives for the national budget discussions, PAGCOR’s Chief, Alejandro Tengco said: “PAGCOR should purely be a regulator and not an operator at the same time. Definitely, my trust is to privatise…

Philippines – PAGCOR to launch its own online casino in 2024 and modernise slot operations

Buoyed by the revitalisation of the local gaming industry, the Philippine Amusement and Gaming Corporation (PAGCOR) is looking to implement measures that will further boost market growth, provide a more convenient gaming experience to guests, and encourage healthy competition. In his keynote address during the opening ceremony of the SiGMA Asia Summit 2023 at the…

Philippines – Analyst questions PAGCOR’s valuation due to shift in market share

The price set by Philippine regulator and operator PAGCOR for the sale of its casinos could fall due to a shift in market share from its own casinos to those licensed in Manila and Clark. Maybank Securities analyst Miguel Sevidal pitches Manila’s Entertainment City market share at now 80 per cent with casinos in Clark…

Philippines – Maybank Securities pitches Travellers International as likely bidder for Pagcor casinos

Maybank Securities believes that Philippine casino group Travellers International, developer of Resorts World Manila, is one of the most likely bidders for PAGCOR’s 43 casinos. Maybank Securities analyst Miguel Sevidal believes the price will have to be revisited though with Php80bn (US$1.44bn) simply too high. He said: “Travellers may be a candidate, given its medium…

Philippines – PAGCOR ‘seriously considering’ a purely regulatory role

Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro Tengco disclosed the new management’s plans to focus more on PAGCOR’s regulatory role, expand the agency’s reach and contribute more to nation-building. During the opening of the ASEAN Gaming Summit in Marriott Manila on March 21, 2023, where Tengco was keynote speaker, the PAGCOR chief…

Philippines – Philippines rebounds in 2022 with 68 per cent increase in gaming income

Gaming has rebounded in the Philippines with PAGCOR, the country’s gaming regulator confirming a 68 per cent jump in income to US$1bn in 2022. This was 2.4 per cent more than the approved budget for the year by the Department of Budget and Management. Fourth quarter income was up by 9.3 per cent from the…

Philippines – Philippines Department of Finance adds its support to PAGCOR being privatised

The Philippines Department of Finance has reiterated calls for PAGCOR to be stripped of its dual operator/regulator model with opinion split over whether it should remain as an operator or be forced to sell off its 47 casinos and act solely as a gaming regulator. Department of Finance Secretary Benjamin Diokno believes it is ‘wrong’…