Philippines gaming regulator PAGCOR says it is losing between Php5 billion and Php6 billion (US$98 million to US$118 million) per month in revenue while the nation’s casinos remain closed.
The authority announced in mid-March that it was ordering all casinos in Manila to close for one month as part of Philippines President Rodrigo Duterte’s community quarantine measures aimed at limiting the spread of coronavirus. Days later that closure order was extended to cover all casinos on the main island of Luzon.
Providing an update to the pandemic on Tuesday, PAGCOR said it is losing “on average” Php5 billion to Php6 billion per month due to the enhanced community quarantine currently imposed, but reiterated its commitment to providing financial support in response to the pandemic.
“We still do our best to reach out to communities which do not have access to basic needs. They deserve all the help that we can give,” said PAGCOR Chairman and CEO Andrea Domingo.
“At the outbreak of COVID-19 in the country, PAGCOR immediately did its part in banning crowd gatherings through the closure order on all gaming facilities even if it meant an adverse effect on its earnings. The entire Philippine gaming industry will suffer but the people’s safety is of paramount importance – the employees, the customers and the public as a whole.”
PAGCOR’s closure order, set to run until at least 14 April, covers all land-based casinos, eGames, bingo, poker, slot machine clubs and sports betting facilities, as well as POGOs and their service providers.