Upcoming Year to Bring Pagcor's Revenue Adjustment

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The Philippine Amusement and Gaming Corp (Pagcor) is set to reduce its revenue share from online casinos to enhance market competitiveness and combat illegal gambling in the country. Chairman and CEO Alejandro Tengco aims to lower the share to 30-32%, down from the previous 50%, with the hope of completing the process by next year. The move is part of Pagcor's strategy to curb illegal gaming operations, which reportedly cost the agency around PHP 1 billion monthly. Despite the challenges, Pagcor anticipates robust growth in the gaming industry, with an estimated gross gaming revenue of PHP 336.38 billion for 2024, driven by licensed commercial casinos and electronic gaming contributions. Additionally, Pagcor is gearing up to launch its online casino brand in the second half of 2024, further contributing to the country's gaming revenue.

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Pagcor Decreases Its Revenue Share to 30-32% By Next Year

Pagcor decided to decrease its revenue share to 30-32% from 50%, as it used to be, in order to prevent the illegal gaming and create competitive market.

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