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PAGCOR set to launch online betting platform in 2H24 to boost revenue


The Philippine Amusement and Gaming Corporation (PAGCOR) is set to introduce its own online gaming platform, CasinoFilipino.com, by the second half of this year to tap into the rapidly expanding revenue stream.

Alejandro H. Tengco, PAGCOR
Alejandro H. Tengco

In an interview with the Manilla Bulletin, PAGCOR Chairman and CEO Alejandro H. Tengco confirmed that the plan is progressing as scheduled, with the website expected to be operational later this year.

Currently, PAGCOR functions as the industry regulator, issuing licenses for internet gaming. However, the entity is preparing to transition to a purely regulatory body, in a move that is set to lead to the privatization of its gambling operations.

While specific earnings projections for online gaming are not yet available, Tengco emphasized the substantial potential, citing the strong brand appeal of Casino Filipino.

The official highlighted the global shift from traditional land-based casinos to online gaming, positioning PAGCOR to extend its reach beyond the Philippines and cater to a worldwide audience.

Tengco noted that major gaming companies internationally are investing significant sums in developing their own internet gaming platforms.

PAGCOR anticipates a boost in revenues through E-Games and new integrated resorts, aiming for a total of PHP336.38 billion ($6 billion) in 2024, following a record-high gross gaming revenue of PHP285.27 billion ($5.09 billion) in 2023.

The E-Games sector, encompassing e-casinos, e-bingo, sports betting, and specialty games, is projected to contribute PHP61.75 billion ($1.1 billion) in 2024, emerging as the fastest-growing sector in the coming years, according to Tengco.

He also expressed excitement about the remarkable growth of E-Games in the Philippines, underscoring PAGCOR’s strategic focus on this dynamic segment.

AGBrief Editorial
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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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