Asia

PAGCOR’s revenue expectations soar high for the year 2018

Published

7 years ago

February 13, 2018

Athira A

Reading Time: < 1 minute

The anticipations of the directors of the Philippine Amusement and Gaming Corporation (PAGCOR) soar high as they are looking forward to doubling the total casino revenue this year. They are expecting huge results this year, related to casino operations throughout the country. The governmental department’s chair, Andrea Domingo, revealed that during 2018’s operations, the earned online casinos under the POGO scheme could hit P$6 billion (US$115,982,836).

In compliance with the POGO scheme, each licensee is required to pay P$10,000 (US$194) in licensing fees per month for a minimum of 15 gaming tables, or a total of P$150,000 (US$2,900) per month per POGO licensee.

With regard to the 45 firms granted licenses by PAGCOR last year, Domingo said: “Not all the licensees were fully operational last year. But this year, everyone will be operational, so we expect revenue to increase. Today, the international betting community has a lot more confidence in fair play in gaming, and they know that that they’re protected against fraud.”

Concluding Domingo stated: “Secondly, the government is getting a lot more revenues now, instead of just P56 million a year.”

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Athira A

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.