The Philippine Amusement and Gaming Corporation (PAGCOR) has confidently regulated the gambling industry since its establishment in 1977 through PD 1067-A. PAGCOR chairman Alejandro Tengco recently conveyed that the agency’s efforts are finally paying off.
“We expect gaming revenue to sustain growth this year and beyond, with the increase for entertainment for both local and foreign tourists. Revenue from our licensed casinos in Entertainment City, Clark, Metro Manila, Cebu, and Fiesta casinos in Rizon is expected to contribute PHP257 billion ($4,6 billion) to our GGR in 2024. Meanwhile, e-casinos, e-bingo, and sports betting together are projected to contribute PHP61,7 billion pesos ($1,1 billion) to the 2024 GGR, making it the fastest growing sector in the last few years.”
The Philippines has seen substantial growth in the local gambling sector over the last decade, with the rise of Entertainment City and other Manila regional casinos. The country has about 50 brick-and-mortar casinos, most of which are located in Manila or on Luzon Island.
What’s Next For PAGCOR?
PAGCOR has stated that it intends to shift its focus from owning and regulating domestic casinos to just regulation. Numerous press reports have claimed that the organization will sell its already-owned casinos by 2025 to privatize the industry.
With plans for an online state-of-the-art 3D Casino, the agency hints it is considering the online casino market in the future. As it stands now, domestic casinos must obtain a Philippine Online Gaming Operators (POGO) license to offer their services online.
Best Philippine Online Casino Options
Online casinos in the Philippines are available from trusted and licensed offshore sources. They offer player protections and implement industry standards. The best sites are all licensed by trusted regulatory bodies and offer fair odds-on slots, table games, and specialty games.
Other site options that make online casino gaming alluring are user-friendly banking options, new account bonuses, reward programs, and daily tournaments. It is also very convenient to bet on mobile games from your phone compared to a brick-and-mortar casino.
What Is The Largest Casino Sector In Asia?
Macau has the largest share of gambling revenue in Asia, with Japan, Singapore, and the Philippines rounding out the top four. The Philippines is growing rapidly but is still a long way away from Macau and the revenue it produces.
Recently, the Philippines announced several additional casino projects, including an ongoing project in Entertainment City, which will soon expand the country’s gambling revenue. The country hopes to overtake Singapore as Southeast Asia’s second-largest gaming destination.