Philippine Amusement and Gaming Corporation (PAGCOR) is set to introduce its own online platform, CasinoFilipino.com, in the latter part of 2024, with the aim of boosting the company's revenues.
PAGCOR Chairman Alejandro Tengco has confirmed that the development of the web platform is underway and is on track for its scheduled release. Tengco highlighted the global trend shifting from traditional land-based casinos to online gambling, which will enable PAGCOR to extend its reach beyond the Philippines. Additionally, PAGCOR anticipates a $6 billion increase in revenue in 2024, aiming to recover from a $1 billion dip in the previous 12 months.
Presently, PAGCOR serves as an industry regulator, issuing licenses for online casinos. Tengco mentioned that PAGCOR is in the process of transitioning to become the official regulator, after which the company will be required to divest its gaming assets.
