pagcor is the only government agency in the Philippines regulating casino and gaming. It authorizes and licenses games of chance, cards, and numbers including blackjack, poker, slots, and bingo. It also regulates sports betting services and employs more than 11,000 people across the country.
PAGCOR supports healthcare and relief efforts through its corporate social responsibility programs, which aim to assist the poor, disadvantaged, and vulnerable in their time of need. These include support for medical frontliners through equipment donations and supplies; testing, isolation, and vaccination requirements to protect public health; and efforts to promote the culture of Filipino heritage.
In addition, PAGCOR is a partner in nation-building and promotes the country’s tourism industry through its casino operations. Its 44 Casino Filipino sites contribute to the national economy while promoting responsible gambling practices.
A new era of responsible gaming is underway in the Philippines. With the implementation of a number of policies that promote transparency and integrity, the country is moving closer to becoming a global leader in responsible gaming.
Licensed casinos in the Philippines generated gross gaming revenues of Php44.8 billion (US$781 million) for the three months to 30 September 2022, 106% higher than for the same period last year and up 81% from 3Q21. The increase was led by the Manila Entertainment City casinos, which grew their GGR by 128% to US$2.04 billion through the first nine months of the year.
The country’s licensed casino industry also generated a record Php17.0 billion (US$2.04 billion) in income from other activities, with casinos paying out a total of Php114.0 billion to their operators through the first nine months of 2022. This was a significant increase from the Php88.4 billion paid out in 2021.
This increase is driven by a strong increase in income from offshore licensed operators and accredited service providers. It is also expected to continue as a result of the continued expansion of the Philippine economy.
In the midst of these developments, it has come to light that PAGCOR’s third-party auditor for offshore gaming licensees, Global ComRCI, may have breached its own capital requirements under the law. The company submitted documents that were spurious to a bank, Soleil Chartered Bank.
As a response to this, PAGCOR said its new management is revalidating the veracity of its documents submitted by Global ComRCI. It is also pursuing legal action against the latter and will cancel its contract if found to be fraudulent.
It would also like to thank Senator Sherwin Gatchalian for bringing this issue to light during his Senate hearing on January 23, 2023.
PAGCOR has been an exemplary partner in nation-building and continues to play a vital role in uplifting the lives of many in the country, especially those who are less fortunate. It is the driving force behind social and welfare projects that help alleviate poverty, improve living standards, and promote the preservation of Filipino heritage. These efforts have benefited millions of people.