Good Morning. PAGCOR has decided that it’s time for itself to move into the online space, aiming to open an online casino in 1Q24 under the Casino Filipino brand. PAGCOR’s Chairman says that the move will improve revenue and extend market expansion and the customer base of the operator/regulator. In Macau, Sands China’s management says that the outlook for the territory is bullish, with a strong rebound in non-Guangdong visitors. And in Vietnam, a report claims that the billionaire family behind Chow Tai Fook has assumed control of Hoiana Resort.
What you need to know
- PAGCOR announces plans to open its own online casino in 1Q24 under Casino Filipino, using VR technology to simulate real play.
- Sand China’s management says that the outlook is bullish for Macau’s full recovery, noting it is just a question of time.
- Billionaire family from Chow Tai Fook Enterprises assumes control of Hoiana Resort after LET group transfers over shares: report.
On the radar
- Macau 1H23 encouraging, gov’t tax revenue at 53% of govt budget forecast.
- PH SEC denies PH Resorts‘ request to discuss possible asset sale in AGM.
- Londoner to reposition and upgrade Sheraton and Conrad hotels in Phase 2.
- MGM China re-designates CFO of license-holding subsidiary.
- Indian casino organizer flees to Goa over firearms case.
AGB Intelligence
PHILIPPINES
PAGCOR to open own online casino in 1Q24
PAGCOR’s Chairman and CEO, Alejandro H. Tengco, has announced plans for the regulator/operator to open its own online casino in the first quarter of next year, under its Casino Filipino brand. The move is aimed at improving revenue, even as the group pushes to sell off its physical casinos. Tengco says the idea is also to mimic a real casino environment using VR technology, tapping new markets and increasing its customer base.
Industry Updates
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