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The Philippine Amusement and Gaming Corporation, (PAGCOR), is encouraged by the revitalization in the gaming industry and wants to implement measures to boost the market, offer guests a better gaming experience, and encourage healthy competitiveness.
PAGCOR’s Chairman and CEO Alejandro H. Tengco announced in his keynote speech at the opening ceremony of SiGMA Asia Summit, 2023 on July 20, 2023. He proudly stated that the agency plans to launch their own online gaming operation, dubbed “casinofilipino.com”, by the first quarter 2024.
Tengco said that online Casino Filipino will use virtual reality technology to simulate the sounds and sights of a real casino. This will provide a realistic gaming experience.
It will enable players to interact with digital counterparts of the traditional casino games. It will also allow users to participate and interact in virtual environments from all over the world. It can reach an international audience and establish a virtual presence among avid gamers. It will also offer an opportunity to tap new markets and diversify their customer base,” said he
The PAGCOR CEO added that online Casino Filipino would “bring many benefits and opportunities, such as increased revenues, extended reach and expansion of the market, cost efficiency and enhanced customer engagement.”
Tengco, in addition to launching the new gaming product, stressed the importance of PAGCOR’s slot machine operation being modernized. This will help maintain the growth momentum.
We have already begun the process of modernizing our slot machines. He said that we expect our customers will have a new gaming experience, as we strive to enhance our games by replacing our older machines with 3,500 brand new units of Electronic Gaming Machines.
PAGCOR Casino Management System will be improved by the IT programs and systems developed as part of the modernization plan.
Tengco said that the system will be a key component in PAGCOR casinos’ efforts to improve operational efficiency, enhance customer experience, facilitate real-time analytics and reporting, ensure security and fraud prevention and optimize financial management.
The PAGCOR CEO also announced PAGCOR’s first-half revenue results for 2023.
“I am happy to share the numbers we generated in the first half this year. From January 2023 to June 2023, our total revenue from gaming operations reached P34.125billion. PAGCOR contributed to nation-building by 48.50% of this amount.
Tengco stated that PAGCOR’s revenue could reach or surpass its prepandemic level by the end 2023, if the agency continues to grow.
The projected total revenue from gaming operations will be P37 billion for the second half of the year. This brings the total projected revenue from gaming operations to P71 billion by the end 2023. The projected income from gaming operations by the end of 2023 is P71 billion, a 94% increase compared to PAGCOR’s record-breaking 2019 year. “If realized, this will be 30% more than the P55 billion income last year,” Tengco continued.
Tengco was also awarded by SIGMA Asia in recognition of his Outstanding Contribution in Gaming at the SIGMA Awards, which were held in Conrad Manila on July 19, 2023. PAGCOR’s President and COO, Atty. Juanito Sanosa, Jr. accepted the award for CEO Tengco.
