PAGCOR Archives - CasinoBeats https://casinobeats.com/tag/pagcor/ The pulse of the global gaming industry Tue, 15 Jul 2025 09:36:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://casinobeats.com/wp-content/uploads/2025/01/cropped-favicon-32x32.png PAGCOR Archives - CasinoBeats https://casinobeats.com/tag/pagcor/ 32 32 Take Down All Gambling Billboards by Aug 15, Philippines Regulator Tells Advertisers http://casinobeats.com/2025/07/15/take-down-all-gambling-billboards-by-aug-15-philippines-regulator-tells-advertisers/ Tue, 15 Jul 2025 09:36:08 +0000 https://casinobeats.com/?p=151104 Authorities in the Philippines have ordered advertisers nationwide to take down public gambling billboards and other related ads by the middle of next month. The Philippine News Agency reported that the Philippine Amusement and Gaming Corporation (PAGCOR) has told gambling licensees, suppliers, and venue operators they must dismantle or remove advertising materials from public spaces […]

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Authorities in the Philippines have ordered advertisers nationwide to take down public gambling billboards and other related ads by the middle of next month.

The Philippine News Agency reported that the Philippine Amusement and Gaming Corporation (PAGCOR) has told gambling licensees, suppliers, and venue operators they must dismantle or remove advertising materials from public spaces by August 15.

The ban will apply to all billboards and out-of-home (OOH) gambling advertisements on public streets. It will also apply to ads displayed on public transport vehicles, such as trains, buses, jeepneys, and taxis, PAGCOR said.

A Filipino jeepney.
A Filipino jeepney. (Image: Don Taylor [CC BY-SA 4.0])

Gambling Billboards Must Go, Says PAGCOR

The PAGCOR move is not a blanket ban. The regulator said that it will issue permits to institutional and responsible gaming campaigns in the future.

But advertisers and gambling firms have also been ordered to send PAGCOR an inventory of their existing billboard and wallscape advertisements by July 16.

Billboards in Manila, the Philippines.
Billboards in Manila, the Philippines. (Image: Judgefloro)

These inventory lists must include details about the size, material, location, rental contract expiry dates, and Ad Standards Council permit numbers of all existing ads.

PAGCOR said it would punish non-compliant firms. It also threatened action against gambling firms who replace dismantled advertising boards with new gambling-related materials.

The regulator’s Chairman and CEO, Alejandro Tengco, said: “While PAGCOR is mandated to regulate the gaming industry and generate revenues for nation-building, we do not want to encourage a culture of gambling addiction. Regulating excessive and pervasive gambling advertisements is a critical step in protecting vulnerable sectors of society, especially the youth.”

The move comes just days after the gaming regulator said it would welcome lawmakers’ efforts to impose stricter regulations.

Senators Want Wider Bans

PAGCOR was responding to a draft law sponsored by Senator Sherwin Gatchalian. The bill proposes banning the use of digital wallets on online gambling platforms.

The offices of the President announced this month that the Department of Information and Communications Technology has blocked access to 7,000 unauthorized online gaming sites.

It said the sites were all identified by PAGCOR. The President’s office said the government would do what it could to stamp out unlicensed online gaming platforms.

A spokesperson urged members of the public to refrain from promoting illegal websites through word of mouth or on social media pages.

A separate draft bill, authored by the former Senate President Juan Miguel “Migz” Zubiri, seeks to go a step further. The Zubiri bill proposes banning all forms of online gambling activity in the Philippines.

Zubiri’s bill proposes outlawing “digital betting platforms, mobile applications, and websites that allow users to place wagers through phones, tablet PCs, and computers.”

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Roque Urged to Return Home and Face Charges Amid POGO Scandal http://casinobeats.com/2025/05/27/roque-urged-to-return-home-and-face-charges-amid-pogo-scandal/ Tue, 27 May 2025 14:38:08 +0000 https://casinobeats.com/?p=110612 Harry Roque, a former Presidential Spokesperson, has faced calls to return to the Philippines to face criminal charges relating to a scandal involving a Philippine Offshore Gaming Operator (POGO).   The call was made by Salvador Panelo, former Legal Counsel to the President. Roque would return to face criminal allegations linking him to an unlicensed offshore […]

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Harry Roque, a former Presidential Spokesperson, has faced calls to return to the Philippines to face criminal charges relating to a scandal involving a Philippine Offshore Gaming Operator (POGO).  

The call was made by Salvador Panelo, former Legal Counsel to the President. Roque would return to face criminal allegations linking him to an unlicensed offshore gaming business.

Roque, who has recently fled to The Hague, where he is now seeking asylum, claims he is being subjected to political persecution.

Panelo has publicly dismissed these claims, stating that merely criticizing the Marcos administration is not sufficient grounds for such an assertion. “If he truly believes he is innocent, he should come home and defend himself,” Panelo said during a televised interview in the Philippines.

The charges stem from Roque’s alleged involvement as a legal representative of Lucky South 99, a Philippine Offshore Gaming Operator (POGO) hub based in Porac, Pampanga. 

Marcos was the President who officially outlawed POGOs in November last year.  

Last year, authorities raided the facility, rescuing 186 Filipino and other foreign nationals who were reportedly working there while being held against their will.

The recent congressional hearings on the matter revealed documents bearing Roque’s signature, which were submitted as evidence of his connection to the operator. 

He also admitted to helping Katherine Cassandra Ong, a registrant of Whirlwind Corporation, which leased the land used by the gaming hub and settled fees with the Philippine Amusement and Gaming Corporation (PAGCOR) in the process.

Roque Financial Ambiguities Relating to POGO

Panelo stressed in his interview that the burden of proof still rests with the prosecution. If the accusations lack merit, Roque does not need to provide any further supporting evidence.

Nevertheless, he warned that due to the nature of the case involving human trafficking, it would require his immediate detention, with a strong case for his need to file a bail petition, too.

As a result of the case, Roque’s legal and financial affairs have been placed under the microscope. Paramount among these concerns is his own company, Biancham Holdings, whose assets suspiciously shot up during this time, from their original value of $2,200 in 2014 to over $1.2 million in 2018.

In a separate indictment, his wife, Mylah Roque, has also been implicated for allegedly signing lease agreements with Chinese nationals who are linked to another POGO hub in Bamban, Tarlac. 

To date, both have failed to comply with congressional subpoenas to provide supporting financial documents, prompting the House of Representatives to issue the recent arrest orders.

Roque’s Asylum Bid and Interpol Red Notice

Responding to the accusations, Roque argued that his legal services were limited and instead maintained that the charges were entirely politically motivated.

In a recent interview, he also went on to dismiss Panelo’s televised statements, stating he believed they reflect a “complete ignorance of asylum law.”

Following due process, the Department of Justice has begun legal proceedings to request an Interpol ‘Red Notice’ insisting that Roque must be immediately apprehended in order to be tried. 

If granted, it would help facilitate the government’s efforts to bring him back to face trial in the Philippines.

Commenting on the Roque predicament, Panelo said public perception would begin to turn against him the longer he remains abroad. “Whether that’s right or wrong, that would be the perception of people. So, if I were him, I would go home,” he remarked bluntly.

Despite their past roles, both working under the Duterte administration, Panelo has made it clear that he believes this is not a political witch-hunt but merely the enforcement of legal accountability.

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Philippines’ AML Agency Investigates Casino Junket Links to Anson Que Ransom http://casinobeats.com/2025/05/14/philippines-aml-agency-investigates-casino-junket-links-to-anson-que-ransom/ Wed, 14 May 2025 08:59:44 +0000 https://casinobeats.com/?p=109255 The Philippines’ anti-money laundering agency says it has launched a probe into alleged links between two casino junket operators and the kidnap-murder of steel magnate Anson Que. The agency said that its investigation now extends “beyond the kidnappers who directed the ransom payment process.” It is also investigating casino players within the junket operations. The […]

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The Philippines’ anti-money laundering agency says it has launched a probe into alleged links between two casino junket operators and the kidnap-murder of steel magnate Anson Que.

The agency said that its investigation now extends “beyond the kidnappers who directed the ransom payment process.” It is also investigating casino players within the junket operations. The agency thinks these players initially received part of the ransom payments in electronic wallets.

Que and his driver, Armanie Pabillo, were kidnapped on March 29. Shortly after, individuals contacted Que’s family, demanding the payment of a ransom worth some $3.7 million.

Casino Junket Probe Begins

His family complied with the request, making three payments between March 31 and April 8. However, the bodies of the two men were found by the roadside on the morning of April 9.

This month, the Philippine National Police said they had evidence that part of the ransom money was deposited in fiat peso and USD into accounts linked to the casino junket operators 9 Dynasty Group and White Horse Club.

On May 5 the recipients reportedly moved the funds into at least 10 different e-pay accounts.

The recipients allegedly used the money to buy cryptocurrency, later sending the tokens to various crypto wallets.

Officers discover the bodies of businessman Anson Que and his driver Armanie Pabillo on April 9.
Officers discover the bodies of businessman Anson Que and his driver Armanie Pabillo on April 9. (Image: GMA Integrated News/YouTube/Screenshot)

Wallets Linked to Shell Accounts, Casinos, and Crypto, Says Agency

In an official announcement, the Anti-Money Laundering Council (AMLC) said that it had launched a probe into the allegations.

The body will work with the gaming regulator, the Philippine Amusement and Gaming Corporation, and the police on the investigation.

The nation’s central bank is helping with the probe. The agency is also working with the Philippine Securities and Exchange Commission and overseas law enforcement agencies.

The AMLC said it had evidence that 9 Dynasty Group and White Horse Club facilitated money laundering for the ransom payments. It wrote: “The illicit scheme reportedly utilized e-wallets intended exclusively for casino gaming, shell accounts, and cryptocurrency to obscure the money trail.”

The police have previously said that they are trying to monitor the movement of the crypto funds through overseas-based wallets. Officers are using blockchain analytics solutions to track the coins.

Firms Say They Have Shut Down Philippines Operations

The agency noted that 9 Dynasty Group and White Horse Club officially ended their junket operations in most Philippine casinos on May 7.

And 9 Dynasty has reportedly said it will put a complete end to its Philippine operations. But the AMLC wrote that it “remains steadfast in its commitment to probe the firms’ alleged money laundering activities.”

Officers found Que and Pabillo’s bodies in the Rizal Province. Investigators said the men had been badly beaten before their deaths.

In mid-April, Filipino news agencies, including the Manila Times, reported that the killings may have been linked to a failed $20 million offshore gaming deal.

In November last year, President Ferdinand “Bongbong” Marcos signed an executive order banning Philippine offshore gaming operators (POGOs) from operating in the nation.

Regulated gaming is on the rise, however. The Filipino gaming industry posted gross gaming revenue figures of 104.12 billion pesos ($1.9 billion) in the first quarter of 2025. This represents a rise of over 27% on the industry’s Q1 figures for the Financial Year 2024.

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Philippines Gaming Revenue Hits Php104.12 Billion in Q1 2025, Driven by Digital Growth http://casinobeats.com/2025/05/12/philippines-gaming-revenue-hits-php104-12-billion-in-q1-2025-driven-by-digital-growth/ Mon, 12 May 2025 10:29:50 +0000 https://casinobeats.com/?p=109012 The gaming industry in the Philippines saw a strong start to the year, accumulating Php104.12 billion in Gross Gaming Revenue (GGR) in Q1 2025. The figure represents an increase of 27.44% compared to the same period last year. The regulator also highlighted Q125 as pivotal in the country’s gambling ecosystem, with electronic gaming becoming the […]

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The gaming industry in the Philippines saw a strong start to the year, accumulating Php104.12 billion in Gross Gaming Revenue (GGR) in Q1 2025.

The figure represents an increase of 27.44% compared to the same period last year. The regulator also highlighted Q125 as pivotal in the country’s gambling ecosystem, with electronic gaming becoming the primary revenue driver for the first time. 

Alejandro H. Tengco, the CEO and Chairman of the Philippine Amusement and Gaming Corporation (PAGCOR), said: “The E-Games and E-Bingo segment made history by becoming the industry’s top revenue driver for the first time, contributing Php51.39 billion or 49.36% of the total first quarter GGR.” 

Consumer Shift Drives Philippines Gaming Surge

He added that this is not just revenue growth but a representation of how consumer behavior continues to shift towards digital, on-demand gaming experiences. The CEO attributes the acceleration in channel shift to broader access to mobile technology.”

The CEO also highlighted that the gaming industry’s rise has significantly reshaped the Filipino gaming landscape.

Tengco explained that digital platforms are taking center stage as the Philippine gaming industry is paradigm-shifting. “Hence, our goal as a regulator is to strike the right balance between innovation, player protection, and long-term industry sustainability,” he added.

PAGCOR’s report notes that licensed casinos generated Php49.28 billion, accounting for 47.32% of the industry’s total. Due to growing digital competition, revenues from licensed casinos dipped slightly in 2024.

“The performance of brick-and-mortar casinos remains critical to industry stability, particularly in tourism-driven hubs such as Entertainment City and Clark,” the Chairman said.

PAGCOR Continues Its Transition

The report also mentions that PAGCOR-operated casinos generated Php3.45 billion in revenues, claiming 3.31% of the market share.

A year ago, PAGCOR’s report for Q1 2024 also marked a considerable increase in income, which went up by over 42% from 2023. The regulator declared total revenue of Php25.24 billion, and Tengco outlined that the corporation was on track to reach Php100 billion in annual income for the first time in its 40-year history.

PAGCOR was also transitioning to become solely a gambling regulatory agency, moving away from its dual role as a regulator and an operator. Its goal was to complete the transition by 2025.

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PAGCOR Ends Operations at Two Casino Filipino Sites, Reallocates Employees http://casinobeats.com/2025/02/06/pagcor-ends-operations-at-two-casino-filipino-sites-reallocates-employees/ Thu, 06 Feb 2025 13:32:37 +0000 https://casinobeats.com/?p=100915 The Philippine Amusement and Gaming Corporation (PAGCOR) has announced the closure of two casino sites, citing significant losses over recent years. PAGCOR said the two venues have been shuttered as part of the regulator’s ‘ongoing rationalization plan.’  Alejandro Tengco, PAGCOR Chairman and CEO, commented, “Given the sustained financial strain, continuing operations at these sites is […]

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The Philippine Amusement and Gaming Corporation (PAGCOR) has announced the closure of two casino sites, citing significant losses over recent years.

PAGCOR said the two venues have been shuttered as part of the regulator’s ‘ongoing rationalization plan.’ 

Alejandro Tengco, PAGCOR Chairman and CEO, commented, “Given the sustained financial strain, continuing operations at these sites is no longer feasible.” 

The first venue to close, Casino Filipino Talisay (operated by Casino Filipino Cebu), incurred net losses of PHP39.32 million ($0.67 million) in 2023, worsening to PHP49.56 million ($0.85 million) in 2024. 

Casino Filipino Tagum is the other location that will discontinue operations. Operated by Casino Filipino Grand Regal, losses hit PHP36.93 million ($0.64 million) in 2024, up from PHP31.56 million ($0.54 million) in 2023. 

“While our decision was driven by mounting financial losses, safeguarding the welfare of affected employees through job reassignment and comprehensive support programs is our priority,” said Tengco. 

The 42 employees from Casino Filipino Talisay will be transferred to various branches under Casino Filipino Cebu. In comparison, the 33 employees from Casino Filipino Tagum will be deployed to different sites under the Casino Filipino Grand Regal in Davao.

Tengco concluded, “Our Human Resource and Development Group is actively working with affected employees to facilitate a smooth transition, ensuring that each individual receives guidance and assistance in their reassignment.” 

The Corporation announced record revenues in 2024, reporting a record-high PHP112 billion ($1.93 billion) in revenue, up 41% year over year from 2023’s figure. 

Before 2024, PAGCOR’s highest gross operating revenue was in 2019, before the global pandemic, when the state-owned gambling giant posted PHP81.98 billion ($1.41 billion).

PAGCOR’s Record-Breaking Revenue in 2024: Key Growth Drivers

The Chairman attributed the record-breaking performance to the electronic games and bingo sectors, contributing just over 50% of the 2024 gaming revenues. 

“The continuous growth of the E-Games sector is the key driver of PAGCOR’s record-breaking performance. It reflects the increasing popularity of digital gaming platforms and the transformative impact of technology on the industry,” Tengco commented. 

12.99% of 2024’s revenue came from PAGCOR-owned Filipino casino venues, with 33.91% of total receipts from the licensed casino sector. 

2024 marked just the second time that PAGCOR has surpassed the PHP100 billion revenue mark, with the other being in 2018. However, the figures from 7 years ago included a one-time property sale of over PHP32 billion.

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PAGCOR celebrates upward trajectory as regulatory evolution continues  https://casinobeats.com/2024/10/30/pagcor-celebrates-upward-trajectory-as-regulatory-evolution-continues/ Wed, 30 Oct 2024 11:48:23 +0000 https://casinobeats.com/?p=98180 PAGCOR has lauded a significant period of growth, as it recorded a 42% year-over-year revenue increase for the first nine months of 2024.  In total, the group landed Php79.43bn (US$1.36bn) of revenue as the Philippines’ gambling sector navigates a new regulatory landscape.  The set of results underlined the significant growth of the country’s thriving online […]

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PAGCOR has lauded a significant period of growth, as it recorded a 42% year-over-year revenue increase for the first nine months of 2024. 

In total, the group landed Php79.43bn (US$1.36bn) of revenue as the Philippines’ gambling sector navigates a new regulatory landscape. 

The set of results underlined the significant growth of the country’s thriving online gaming sector, which reported 25% of the total revenue for the nine-month period. 

Alejandro Tengco, PAGCOR Chair and CEO, stated: “Our third quarter performance is a strong indication that in spite of the President’s decision to ban offshore gaming operations in the country, we are still on track to meet our Php100bn revenue target by year-end.

“From our total contributions to nation-building, Php33.2bn ($570m) went to the National Treasury as 50% government share. Half of the remittances to the national coffers, or Php16.6bn ($285m), has been earmarked for PhilHealth to fund the Universal Healthcare Law.”

The PAGCOR has recently taken significant steps to shift the allure away from the grey market and bring operators closer to the regulated space. 

One of the key developments for the Philippines was its decision to reduce fees for operators by 2025. The move was confirmed by Tengco during a Keynote Address at the IAG Academy Summit, where he revealed they will be dropped to 25%.

Furthermore, as the regulatory framework in the region continues to evolve, he added that they will decrease fees to 30% for other integrated resorts and land-based operators. 

It comes as the country is taking significant steps to clean up its gambling sector and tackle the black market, with licensed integrated resorts set to see a reduction of 10% in charges on GGR.

Speaking at the Summit, Tengco stated his ambitions that it “encourages operators away from the grey markets and to embrace the mainstream”, as he unites with governmental forces to bolster the crackdown on illegal operations in the region.

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The Philippines moves towards FATF grey list departure  https://casinobeats.com/2024/10/28/the-philippines-moves-towards-fatf-grey-list-departure/ Mon, 28 Oct 2024 11:00:52 +0000 https://casinobeats.com/?p=98118 The Philippines celebrated achieving its 18-point action plan set by the FATF and moving significantly closer to exiting the global AML grey list.  It’s a list that can be substantially detrimental for countries, which when they are on it face increased monitoring and political oversight.  Given the importance of the Philippines to the Asian gambling […]

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The Philippines celebrated achieving its 18-point action plan set by the FATF and moving significantly closer to exiting the global AML grey list. 

It’s a list that can be substantially detrimental for countries, which when they are on it face increased monitoring and political oversight. 

Given the importance of the Philippines to the Asian gambling ecosystem, progress being made in the country’s exit from the grey list will be widely celebrated by the region. 

President Bongbong Marcos and the PAGCOR have been decisive in taking action against illicit actors in the Philippines, banning POGOs and looking to improve the conditions for the regulated sector. 

The FATF has commenced with its initial assessment over whether necessary measures have been taken in the Philippines in order to progress with its removal from the grey list, which could be cemented by 2025. 

Executive Secretary of the Philippines’ Anti-Money Laundering Council, Lucas Bersamin, stated: “This is the final step toward the country’s removal from the greylist.

“This milestone is a testament to the hard work and coordination across government agencies. It reflects our strong commitment to meeting the FATF’s stringent standards and ensuring the long-term protection of our financial system. We are confident that this progress will be affirmed during the on-site visit.

“We must continue our efforts to ensure that our reforms are implemented and sustained. Building a resilient AML/CTF regime is critical for safeguarding our financial system and our economy from illicit activities.”

The country’s gambling sector has embarked on something of a transformational period following Marcos decision to elevate action on the POGOs. 

Speaking at his state of the nation address, Marcos said: “Disguising as legitimate entities, their operations have ventured into elicit areas beyond gaming, such as financial scamming, money laundering, prostitution, human trafficking, kidnapping, brutal torture – even murder.

“The grave abuse and disrespect to our system of laws must stop. It is necessary to stop this disturbance in our society, and the desecration of our country.”

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PAGCOR urges operators away from grey market  https://casinobeats.com/2024/09/11/pagcor-urges-operators-away-from-grey-market/ Wed, 11 Sep 2024 12:38:38 +0000 https://casinobeats.com/?p=96856 As the Philippines continues on its path of regulatory evolution, The Philippine Amusement and Gaming Corporation (PAGCOR) has taken steps to reduce fees for operators by 2025.  The steps were confirmed by Alejandro Tengco during a Keynote Address at the IAG Academy Summit on Tuesday, who stated that licence fees for online gaming operations will […]

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As the Philippines continues on its path of regulatory evolution, The Philippine Amusement and Gaming Corporation (PAGCOR) has taken steps to reduce fees for operators by 2025. 

The steps were confirmed by Alejandro Tengco during a Keynote Address at the IAG Academy Summit on Tuesday, who stated that licence fees for online gaming operations will be dropped to 25%.

Furthermore he added that they will drop to 30% for other integrated resorts and land-based operators. 

It comes as the region is taking significant steps to clean up its gambling sector and tackle the black market, with licensed integrated resorts set to see a reduction of 10% in charges on GGR.

Speaking at the Summit, Tengco stated his ambitions that it “encourages operators away from the grey markets and to embrace the mainstream”, as he unites with governmental forces to bolster the crackdown on illegal operations in the region. 

It all forms part of the country’s efforts to depart from the FATF grey list and accelerate economic growth. 

Figures in the region recently revealed that 74.78% of the illegal igaming websites so far detected as part of the clean up efforts have been blocked. 

Ret. Gen. Raul Villanueva, President of PAGCOR’s Security Monitoring Cluster, has underlined the complexities of eradicating the black market. 

He stated: “Of the 7,747 [illegal offerings], 5,793 [74.78%] were already blocked, and 1,954 are still active. “As of now based on my research, there’s no studies yet on payment blocking because some of these criminals use cryptocurrency as a mode of payment. And the banking system is very complex, offshore banking is very complex. 

“But we [have reached] out to payment portals like GCash and Maya, and we had a meeting two weeks ago with a representative of Gcash and they promised us to purge on these illegal sites because we have submitted to them or have published only the illegal sites on our websites.” 

PAGCOR, as part of its strategy, did deepen ties with social media giants in a bid to elevate the way it tackles unlicensed gambling advertising, which led to a significant reduction in exposure for the market.  

“There was a reduction in Facebook ads, especially illegal sabong, because of these efforts that we’ve been doing. But they shifted to chat rooms like Telegram chatgroups they’ve been advertising and posting links on illegal sites”, stated Villanueva.

The Philippines is anticipating a year of growth when it comes to its igaming sector. The first half of 2024 opened the doors for ‘a banner year’ for the region as it declared a net income increase of over 120% year-over-year.

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PAGCOR elevates action against illegal igaming sites  https://casinobeats.com/2024/07/17/pagcor-continues-to-elevate-action-against-illegal-igaming-sites/ Wed, 17 Jul 2024 14:16:11 +0000 https://casinobeats.com/?p=95399 The Philippines’ gambling regulator, Amusement and Gaming Corporation (PAGCOR), has continued to accelerate the country’s efforts to alleviate itself from the FATF grey list. As a part of continued efforts to clean up the country’s gambling sector and provide the country with a clearer path to economic growth, it revealed that 74.78% of the illegal […]

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The Philippines’ gambling regulator, Amusement and Gaming Corporation (PAGCOR), has continued to accelerate the country’s efforts to alleviate itself from the FATF grey list.

As a part of continued efforts to clean up the country’s gambling sector and provide the country with a clearer path to economic growth, it revealed that 74.78% of the illegal igaming websites so far detected have been blocked. 

Ret. Gen. Raul Villanueva, President of PAGCOR’s Security Monitoring Cluster, has underlined the complexities of eradicating the black market. 

He stated: “Of the 7,747 [illegal offerings], 5,793 [74.78%] were already blocked, and 1,954 are still active. “The payment blocking as of now based on my research, there’s no studies yet on payment blocking because some of these criminals use cryptocurrency as a mode of payment. And the banking system is very complex, offshore banking is very complex. 

“But we [have reached] out to payment portals like GCash and Maya, and we had a meeting two weeks ago with a representative of Gcash and they promised us to purge on these illegal sites because we have submitted to them or have publish or publish in our websites only the illegal sites.” 

PAGCOR, as part of its strategy, did deepen ties with social media giants in a bid to elevate the way it tackles unlicensed gambling advertising, which led to a significant reduction in exposure for the market.  

“There was a reduction in Facebook ads, especially illegal sabong, because of these efforts that we’ve been doing. But they shifted to chat rooms like Telegram chatgroups they’ve been advertising and posting links on illegal sites”, stated Villanueva.

It comes as the Philippines is anticipating a year of growth when it comes to its igaming sector, the first half of 2024 opened the doors for ‘a banner year’ for the region as it  declared a net income increase of over 120 per cent year-over-year.

Commenting on the figures, Alejandro Tengco, CEO and Chair of PAGCOR, stated: “PAGCOR’s robust net income growth translates, of course, to a larger Contribution to Nation-Building. We were able to remit Php31.82bn in CNB to the Treasury in the first six months compared to Php22.62bn in the same period last year.”

The gaming corporation stated that gross revenue was up by 42.92 per cent YoY to Php51.76bn (2023: Php36.21bn), with gaming operations consisting of Php45.39bn.

“Given the phenomenal revenue increase in the e-games sector and with more players and investors signifying their intent to enter the Philippine market, we are confident that the year 2024 will be truly a banner year for PAGCOR.”

Tengco has also previously underlined the importance of not allowing the illicit actors in the sector to be able to disrupt or degrade the positive work of the legal actors in the region. 

“We should not blame and demonise our licensed gaming operators because these are closely monitored by PAGCOR. Our licensees pay taxes, and they help provide legitimate jobs and livelihood to a lot of people,” Tengco said. 

“To us, the real threat are the alien hacking and scam syndicates who operate underground, and they are the ones that our law enforcement agencies are trying to locate and dismantle. And we are cooperating fully with the authorities in this regard.”

The efforts of PAGCOR also come after warnings from the Chinese government over the enable of their citizens to gamble in the region. 

The Chinese embassy had previously distanced itself from having anything to do with the Philippine Offshore Gaming Operators (POGOs) sector.

The statement from the embassy said: “Chinese law prohibits all forms of gambling. The Chinese government strictly cracks down on Chinese citizens engaging in gambling business abroad including POGOs. Ample evidence shows that POGOs breed serious crimes such as kidnapping for ransom, human trafficking and murder. POGOs are detrimental to both Philippine and Chinese interests and images as well as China-Philippines relations.

“In recent years, the Chinese and Philippine law enforcement agencies have maintained close communication and cooperation and conducted multiple joint operations to bring down cross-border gambling and telecom fraud. Since 2018, nearly 3000 Chinese citizens implicated in the cases have been repatriated with joint efforts of both sides. In the past year alone, China has assisted the Philippines in shutting down five POGOs hubs and repatriated nearly 1000 Chinese citizens.”

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PAGCOR: 2024 expected to be ‘banner year’ after strong H1 growth https://casinobeats.com/2024/07/16/pagcor-h1-2024-financial-results/ Tue, 16 Jul 2024 08:30:00 +0000 https://casinobeats.com/?p=95329 The Philippine Amusement and Gaming Corporation has published its financial results for the first half of 2024, declaring a net income increase of over 120 per cent year-over-year. Commenting on the figures, Alejandro Tengco, CEO and Chair of PAGCOR, expressed confidence that the annual growth so far indicates that 2024 will be “a banner year” […]

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The Philippine Amusement and Gaming Corporation has published its financial results for the first half of 2024, declaring a net income increase of over 120 per cent year-over-year.

Commenting on the figures, Alejandro Tengco, CEO and Chair of PAGCOR, expressed confidence that the annual growth so far indicates that 2024 will be “a banner year” for the market.

For H1 2024, PAGCOR’s net income came in at Php6.56bn (€102.8m), up by 121.48 per cent in comparison to the Php2.96bn reported during the same period the previous year.

Total gross gaming revenue for the Philippines’ gaming industry rose as well by 19.21 per cent to Php194.74bn (H1 2023: Php163.36bn).

PAGCOR noted in a statement on their website that Tengco believes “reforms and enhanced regulations being implemented under the new administration” have contributed to the growth seen in H1.

The CEO said: “PAGCOR’s robust net income growth translates, of course, to a larger Contribution to Nation-Building. We were able to remit Php31.82bn in CNB to the Treasury in the first six months compared to Php22.62bn in the same period last year.”

The gaming corporation stated that gross revenue was up by 42.92 per cent YoY to Php51.76bn (2023: Php36.21bn), with gaming operations consisting of Php45.39bn.

Breaking down the gaming revenue, online gaming (e-games, e-bingo and bingo grantees) had the biggest share at 45.53 per cent with Php20.66bn. Integrated resorts or licensed casinos were next with Php16.06bn (35.39 per cent), followed by PAGCOR-operated casinos under the Casino Filipino brand with Php6.93bn (15.27 per cent).

Tengco added: “Given the phenomenal revenue increase in the e-games sector and with more players and investors signifying their intent to enter the Philippine market, we are confident that the year 2024 will be truly a banner year for PAGCOR.”

In terms of GGR, licensed casinos had the biggest share with Php99.16bn, while e-games generated Php63.01bn, which is over triple the amount reported for the segment in H1 2023 (Php20.43bn).

Meanwhile, PAGCOR-operated casinos GGR fell by 11.6 per cent YoY to Php8.89bn (H1 2023: Php10.06bn).

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