PAGCOR Sets Stage for Expansion in Philippine Gaming Industry

The Philippine Amusement and Gaming Corporation (PAGCOR) has unveiled ambitious plans for the nation’s gaming sector, forecasting the opening of one integrated resort (IR) annually over the next five years. This strategic expansion begins in Quezon City, with subsequent openings in Cebu, Clark, and other strategic locations. Alejandro Tengco, PAGCOR’s chairman and CEO, expressed optimism for sustained industry growth and increased investment attraction as the organization transitions to a purely regulatory role, shedding its casino operations.

This shift aligns with PAGCOR’s March 2023 announcement to privatize its Casino Filipino operations, focusing instead on regulation. This pivot is expected to enhance industry oversight and stimulate further growth, positioning the Philippines as a leading gaming destination in the Asia-Pacific region.

PAGCOR’s modernization efforts, including reduced license fees and system upgrades, aim to foster a competitive and efficient gaming environment. These efforts come on the heels of a record-breaking year for the Philippine gaming sector, which saw revenues soar to P285.27 billion in 2023, an 11.22% increase from the pre-pandemic peak in 2019.

Integrated resorts remain the primary revenue drivers, contributing P207.48 billion in 2023. The rapidly expanding Electronic Games sector and PAGCOR-operated Casino Filipino venues also made significant contributions, highlighting the diverse and robust nature of the country’s gaming industry.

The return of online gaming giant 188BET to the Philippines, relocating its operations from the Isle of Man, underscores the country’s appeal as a regulatory haven. Tengco hailed this move as a testament to the confidence in the Philippine gaming regulatory environment, underscoring PAGCOR’s commitment to ensuring a safe, reliable, and growth-oriented gaming industry.

As PAGCOR embarks on this transformative journey, the Philippine gaming industry is poised for unprecedented growth and innovation, promising a vibrant future for both operators and patrons alike.