The Philippine Amusement and Gaming Corporation (PAGCOR) CEO Alejandro Tengco has told media sources that the country’s gaming revenue has returned to pre-pandemic levels.
During the COVID-19 pandemic, the Philippines, like many others, implied strict travel restrictions and restrictions on public gatherings, leading to many domestic casinos closing their doors. Now that all the restrictions are gone and the public is back to normal, casino revenue from tourists and residents has increased.
Tengco went on to say that current revenue levels are just short of 2019. Revenue reported for the first nine months of 2023 reached PHP55.95 billion. Tengco also stated that the country’s gross gaming revenue (GGR) could set a record if revenue continues throughout the year.
Casino Industry Expansion In The Philippines
Several factors are leading to increased revenue from the gambling industry in the Philippines, including new casino resorts, Philippine Offshore Gaming Operators (POGO), and the modernization of government-owned casinos.
Currently, more casino resorts are buying property in the Clark Freeport Zone, as many believe the area will develop into a popular tourist destination over the next decade. PAGCOR CEO Alejandro Tengco said that Clark has excellent potential as new buildings and commercial properties are being developed in all directions.
Currently, only a handful of casinos are operating in the Cagayan Special Economic Zone and Freeport, but that will change once the area is more developed.
Can You Play Online Casinos In The Philippines?
Yes, online Philippine casinos are legal throughout the country, but only from outside sources. The online casinos operating inside the country are bound by law not to offer their services to PH residents. While PAGCOR licenses domestic online casinos, they can only provide their services to nearby countries, notably China.
In China, online gambling is illegal, and they have made several attempts to clean up the domestic online gambling industry in the Philippines, but the PH government has not yet ended their online gambling ventures.
What Are The Best Online Casino Games To Win Real Money?
Depending on the player, online blackjack betting, poker, slots, and roulette are great options for winning real money. Trusted online casinos operate under strict regulations and must obtain licensing and compliance records to assure their players the game odds are fair.
In addition to the games mentioned above, we offer several Philippine online casino site reviews, including online sports betting and online poker gambling, and we accept bets on online horse racing with a single user account. To add icing on the cake, many online casinos will accept digital currencies such as Bitcoin, Ethereum, Litecoin, and various altcoins to make depositing and withdrawals faster and easier for their players.