The lifting of travel and movement restrictions has boosted leisure, travel, and entertainment activities, which will contribute to the sustained growth of the Philippines gaming industry. Despite enduring strict measures during the Covid-19 pandemic, including travel restrictions and temporary closure of land-based facilities, the Philippines gambling industry has experienced a rebound. The gross gaming revenue (GGR) of the sector is now close to the levels seen in 2019, the last full year before the pandemic. Pagcor, the regulatory body, reported record gaming revenue in 2019 and anticipates the possibility of setting new GGR records in 2023. The industry’s recovery has been driven by domestic players and an influx of new tourists, compensating for the absence of traditional high rollers and junkets.
To further support the growth of the local market, several factors come into play. The opening of additional integrated resorts in the Clark Freeport Zone and Special Economic Zone, formerly a US airbase in Pampanga, will contribute significantly to the country’s gaming and tourism sectors. The development of infrastructure, surrounding tourist attractions, and new commercial districts in Clark demonstrates its immense potential in becoming a major gaming and tourism hub by the end of this decade.
Pagcor is implementing a modernization program aimed at increasing revenue. Plans include introducing 3,000 new slot machines by January 2024, with a revenue-sharing scheme in place. It is projected to generate at least PHP18.00bn in revenue over the next five years. The agency is also modernizing its table games to attract more players and boost revenues. Additionally, Pagcor is progressing with the launch of an online platform, Casinofilipino.com, set to go live in Q1 2024. This move will enable Pagcor to capture a significant share of the lucrative online market.
Last month, Pagcor announced its intention to transition into a purely regulatory body, leading to the privatization of its gambling operations. This step aims to create a level playing field and foster future growth and viability among other operators. Currently, Pagcor operates the Casino Filipino chain of casinos, consisting of eight properties throughout the country.
