Philippines to launch international online casino

The Philippines has long been debating what to do with the Philippine Offshore Gaming Operations, known as POGOs for short. The source of much political consternation and nuanced opinions, these online gambling operators have been on the verge of extinction. Now, though, the country is looking to not so much shutter POGOs as it is keen to emulate their success and turn it into its own thing.

PAGCOR, the Philippine Amusement and Gaming Corporation, which regulates the gambling industry in the country, and also operates gambling facilities of its own, confirmed that it would be looking to launch an international online casino brand, Casino Filipino, which will seek to appeal to international crowds and prove yet another resilient source of revenue for the country’s gambling industry.

The confirmation came from the horse’s mouth with PAGCOR Chairman Alejandro Tengco speaking at the SiGMA Asia gaming conference and saying that online gaming would allow PAGCOR to tap into new markets and reach bigger audiences. PAGCOR is confident that this is the right move for it, as the global online gambling market is pegged at some $63.53m as of 2022 and these projections are increasing.

PAGCOR is keen to ensure that it continues to collect substantial revenue as it uses the money to contribute to various budget deficits in the country. PAGCOR’s casinos – some 41 physical locations – were helping out to fund the health system during the nadir of COVID-19. In 2022 alone, PAGCOR collected close to $300m in revenue, and these numbers may yet go up with the rollout of an online casino.

It was precisely around the time of COVID-19 that the Philippines decided to overhaul its gambling system and introduce more forms of gambling, including online wagers, to help bootstrap the country’s budget and fund various social causes and initiatives. Meanwhile, POGOs also remain a powerful revenue source with 32 operators based offshore.

There has been a fair degree of discontent with POGOs, too, with these operations causing political strife. The industry has been targeted by various lawmakers in the country who have argued that maintaining POGOs’ status has been the cause of many tensions with important geopolitical neighbours, such as China. The Casino Filipino brand is due to launch early in 2024 and the details of the rollout are yet to be elaborated by 2024.

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