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Philippines Casino Regulator help to Combat Coronavirus

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Philippines Casino Regulator help to Combat Coronavirus

The Philippines casino regulatory body is donating PHP2 billion (~$39 million) to its federal government to help combat the coronavirus pandemic.

Despite the global health crisis and economies around the world tumbling, PAGCOR, the Philippine Amusement and Gaming Corporation, maintains 2020 will be a prosperous year. In addition to regulating the multibillion-dollar casino resorts in Manila’s Entertainment City, PAGCOR operates eight brick-and-mortar casinos under its Casino Filipino brand, and dozens of smaller satellite venues.

PAGCOR Chairperson Andrea Domingo has issued a 2020 gross gaming revenue (GGR) target of PHP290 ($5.66 billion). That’s a nearly 17 percent increase on 2019’s casino and online gaming win, which totaled $4.85 billion.

Domingo’s grand GGR forecast is engulfed in a host of potential factors that could prevent its realization.

Most specifically is the COVID-19 pandemic. Though the major casinos in Entertainment City have remained open, the World Health Organization reports that the Philippines is home to 52 confirmed casinos, two of which resulted in death.

She added, “We want to help the concerned agencies in the fight against and containment of this deadly disease.”

POGO operations continue to increase their revenues. Though the Philippines casino regulator has put a cap on licenses, the 60 active online gaming permit holders could capitalize on widespread travel restrictions in Asia.

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