PAGCOR chair and CEO Andrea Domingo says she expects the Philippines gaming sector to double its revenue in 2022 as the nation reopens to the world following two years of pandemic-affected business, according to a report by GMA News.
Speaking at the Kapihan sa Manila Bay virtual forum this week, Domingo said, “I think that we should be hitting anywhere from Php25 billion to Php30 billion (US$478 million to US$574 million) by June, so it would be possible that by the end of the year PAGCOR would have about Php60 billion to Php65 billion (US$1.15 billion to US$1.24 billion) a year GGR, which is almost twice as much as last year.”
Despite the pandemic, PAGCOR managed to raise more than Php100 million (US$1.9 million) in income in each of the past two years by cutting down on expenses, Domingo said. According to GMA News, income for the year through 25 April 2022 currently sits at Php18 million (US$345,000). It is expected to accelerate with the Philippines opening up to the world.
PAGCOR had previously reported total gaming income generated by the nation’s casinos – as opposed to actual PAGCOR income – of Php 32.63 billion (US$638.9 million) in the three months to 31 December 2021, up 8.8% on the same period last year and 46.5% higher than the September quarter.