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Tuesday, 10 April 2018

Philippine online gambling may increase to $3.5 million

In 2018, Philippine Amusement and Gaming Corporation (PAGCOR) of the Philippines expects revenue from the betting industry will increase 9.4% to 3.57 billion US dollars
Philippine Amusement and Gaming Corporation

Philippine online gambling may increase by 9.4%

Game revenues in the Philippine market may increase by 9.4% in 2018, with online casino playing a key role in the country's gambling growth story.

PAGCOR Chairman - Andrea Domingo estimates that the country's total betting revenue will increase to 186 billion pesos (US $ 357 million), most of the growth from online gambling operators.

"The total revenue of our industry is about 186 billion pesos, compared to PAGCOR's total revenue target, and we will deduct 65 billion pesos (US $ 1.25 billion). To provide 72% of the coupon, Domingo holds the 2018 Asean Summit in Manila, "Domingo told reporters.

Domingo representative, PAGCOR plans to license POGO to increase its 2017 revenue target by 3 billion euros ($ 56 million) this year to 60 million euros ($ 115.2 million).

She noted that since all 53 business licenses in the country's companies have been put into operation, it is possible to reach a target of 6 billion pesos. By 2017 PAGCOR has released the first POGO plan that will issue 35 pct betting certificates.

The PAGCOR licensee paid a $ 50,000 stipend and processing fee for the electronic casino and paid $ 40,000 for sports betting. Operators were also charged $ 200,000 (electronic casinos) and $ 150,000 (sports betting) after being allowed.

Domingo says POGO's goal is to secure the interests of local people and achieve revenue targets to strike a balance between organizations to help build government-funded projects.

Due to the high cost of PAGCOR, she also denied reports that the operator moved it from the Philippines to other Southeast Asian regions, particularly Cambodia.

In fact, Domingo has revealed that eight new operators are applying for POGO licenses in the Philippines to offer online sports betting and betting games.

"There will be more, but we are very cautious about this," the PAGCOR spokesman said. "As I said, the internet is very fast. We want to make sure that it will not be used for any criminal activity."

Domingo in the field of online gambling swipe a competitor of the country, pointing out the advantages of investing in the Philippines that this country is not a military state.

She also emphasized the literacy skills of Filipino workers and their warm hospitality.

"If they can not afford to pay PAGCOR, they can not pay big amounts of money they get. That's why we

Strictly, we do not want to be hit when we run away, "Domingo said.
Philippine online gambling may increase to $3.5 million
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