Online casinos fuel rising gross gaming revenues in Philippines

[The Buzz]

Andrea Domingo, chair and CEO of Philippine Amusement and Gaming Corporation (PAGCOR) announced this week that the Philippines expects gross gaming revenue to grow 9.4% to 186 billion pesos ($3.57 billion) this year, with online casinos playing a key role.

Last year, the Philippines posted 170 billion pesos in gross gaming revenue, Domingo said, up 7.6% from 158 billion pesos in 2016.

From Asian Review:

"Growth this year will be driven by online casinos, Domingo said. "We are looking at doubling [Philippine offshore gaming operators] and electronic-gaming," she said.

The Philippines has promoted offshore gaming under President Rodrigo Duterte's administration, which wants to raise more revenue while managing the proliferation of casinos in the predominantly Catholic nation. Only gamblers abroad can bet in Philippine offshore gaming operators, or POGOs.

Philippines currently hosts 53 POGOs, which are dominated by Chinese operators. Last year, the government earned 3.9 billion pesos from fees, an amount poised to double this year, Domingo told industry stakeholders during her speech at the summit organized by Asia Gaming Brief.

The Philippines has the goal of becoming a major gaming destination in Asia, although Duterte has struck a balance between accommodating casino investments and preventing local gambling addiction.

Read the entire article here: https://asia.nikkei.com/Politics-Eco...in-2018?page=1

[Cash Bonus]

This is great news, but we have yet to see the Phillipines become a major gaming destination in Asia.

[Vargoso]

Great information! This only confirms the huge boom that is currently experiencing Asia.

It is interesting to see how only abroad players can make such big numbers.

Only gamblers abroad can bet in Philippine offshore gaming operators, or POGOs