PAGCOR to launch own online casino in 1st QTR of 2024, eyes modernization of slot machine operations
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Buoyed by the revitalization of the local gaming industry, the Philippine Amusement and Gaming Corporation (PAGCOR) is eyeing to implement measures that will further boost market growth, provide a more convenient gaming experience to guests, and encourage healthy competition.
In his keynote address during the opening ceremony of the SiGMA Asia Summit 2023 at the SMX Convention Center in Pasay City on July 20, 2023, PAGCOR Chairman and CEO Alejandro H. Tengco proudly announced that the agency intends to launch its own online gaming operations, dubbed as “casinofilipino.com” by the first quarter of 2024.
Tengco explained that the online Casino Filipino aims to employ virtual reality-based technology that can simulate the sights and sounds of a physical casino, thereby offering a realistic and immersive gaming experience.
“It will allow players to interact with the digital counterparts of traditional casino games. It will also transcend physical boundaries and will enable users from around the world to interact and participate in virtual environments. It can reach a global audience and can establish a presence in virtual communities of avid gamers. It will likewise offer an opportunity to tap into new markets and diversify its customer base,” he said
The PAGCOR chief added that the online Casino Filipino will “bring several benefits and opportunities such as increased revenue, extended reach and market expansion, cost efficiency, and enhanced customer engagement.”
Aside from the launch of the new gaming offering, Tengco underscored the importance of modernizing PAGCOR’s slot machine operations to help sustain growth momentum.
“We have already taken the preliminary steps and entered into negotiations with different manufacturers for the modernization of our slot machines. We expect our customers to have a renewed gaming experience as we endeavor to enhance our game offerings by replacing our old machines with a total of 3,500 brand-new units of Electronic Gaming Machines under a lease agreement between PAGCOR and the manufacturer,” he noted.
The modernization plan also includes the development of the state-run gaming and regulatory firm’s Information Technology (IT) programs and systems to help finetune PAGCOR’s Casino Management System.
“This will play a pivotal role in improving PAGCOR’s casinos in terms of operational efficiency, enhancing customer experience, facilitating real-time reporting and analytics, ensuring security and fraud prevention, optimizing financial management and streamlining compliance requirements,” Tengco explained.
Meanwhile, the PAGCOR chief also proudly announced the state-run gaming and regulatory firm’s revenue achievements in the first half of 2023.
“For the first half of this year, I am proud to share with you the figures we have generated so far. Our total income from gaming operations from January to June of 2023 has reached P34.125 billion. Of this amount, PAGCOR’s contributions to nation building also rose by 48.50% — from P15.23 billion in the first half of 2022 to P22.62 billion this year,” he said.
Tengco said that with the agency’s consistent upward revenue trend, it is highly possible for PAGCOR to reach or even surpass its pre-pandemic income by the end of 2023.
“For the second half of this year, our total income from gaming operations is projected to be P37 billion, which brings to a total of P71 billion the projected income from gaming operations by the end of 2023. This is 94% compared to the 2019 record-breaking year of PAGCOR. If realized, it will be 30% higher than last year’s income of P55 billion,” Tengco furthered.
Meanwhile, Tengco received an award from SIGMA Asia for his Outstanding Contribution to Gaming during the SIGMA Awards held on July 19, 2023 in Conrad Manila in Pasay City. PAGCOR President and COO Atty. Juanito Sañosa, Jr. received the award on behalf of CEO Tengco.
