Philippine gaming industry back to pre-pandemic levels – PAGCOR

Shirley Pulis Xerxen November 7, 2023

Share it :

Philippine gaming industry back to pre-pandemic levels – PAGCOR

Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Ajejandro H. Tengco said increased demand for leisure, travel and entertainment will sustain the growth trajectory of the Philippine gaming industry in the coming years.

During an event held in Pampanga over the weekend, Mr. Tengco said the lifting of travel and movement restrictions has fueled demand for dining, shopping and other outdoor activities that were not possible during the pandemic. “And so, one year into the term of President Ferdinand Marcos Jr., our gross gaming revenues have returned to near the levels of 2019 which was the year PAGCOR achieved its all-time high for Philippine GGR levels,” he said.

Today, we expect the 2023 GGR to match, if not surpass, our 2019 record. Not bad considering that many of our traditional high rollers and junkets have not fully returned, but our domestic players and the influx of new tourists have filled the void
Alejandro H. Tengco, PAGCOR chairman

Mr. Tengco said future growth of the local gaming industry will also be supported by the opening of more integrated resorts including those in Clark.

Alenjandro Tengco, PAGCOR chairman and CEO featured on a recent SiGMA Magazine issue. Click on image to view issue

“Clark is projected to become a major gaming and tourism hub before the end of this decade. If you go around Clark, you can see its immense potential.

“You can see the infrastructure in place, you can see the surrounding tourist destinations, and you can see the new buildings and new commercial districts being developed in all directions,” he said. Tengco added that PAGCOR is embarking on a modernization program to increase revenues.

“We expect the delivery of 3,000 brand new slot machines by January next year. We have an agreement in place with a supplier for a revenue-sharing scheme for these new machines which we expect to generate at least P18 billion in revenues in the next five years,” he said.

“We are also modernizing our table games by replacing our old ones with new and more sophisticated gaming tables to attract more players and further increase revenues,” he added. On top of its casino modernization programme, Mr. Tengco said PAGCOR is likewise procuring a system for its online platform, to be called casinofilipino.com, “to give PAGCOR a significant share of the very lucrative and very profitable online market.

PAGCOR, has disclosed that for the nine months that concluded on September 30, 2023, the total revenue from gaming operations was Php51.66 billion, or US$906 million. This number shows significant growth, rising by 31.9 percent annually and exceeding the government’s planned goal for the time frame.

SiGMA Europe 2023 is only a few days away!

Join us in Malta between the 13 – 17 November for SiGMA Europe 2023

SiGMA Europe’s Malta Week festival brings together a diverse and international group of industry leaders for a convergence of expo, conference, and networking. The event will be held at the Mediterranean Maritime Hub (MMH), a larger, more dynamic venue that promises a raw, industrial, and unconventional space unlike anything ever used before.
Find all the details here.