PAGCOR is required to share 50 percent of its net revenue with the federal government. The agency is the Philippines’ largest tax contributor, behind only the Bureau of Internal Revenue and Bureau of Customs.<\/p>\n
When Duterte decides the country is ready to reopen, Domingo has suggested casinos first begin by only allowing VIP players access. The high rollers, she believes, are most critical to the gaming industry’s recovery.<\/p>\n
Filipino lawmakers earlier this month suggested PAGCOR should consider unloading its owned casinos and satellites. Senate Minority Leader Franklin Drilon said selling the assets would help the federal government fight COVID-19.<\/p>\n
\nThe government does not have to look far to raise additional revenues. There are low-hanging fruits the government can immediately tap to provide the much-needed resources for our country to survive this pandemic,” Drilon stated.<\/p>\n<\/blockquote>\n
There are currently 10 Casino Filipino properties, one each in Angeles, Bacolod, Cebu, Davao, Iloilo, Mactan, Malate, Mimosa, Olongapo, and Tagaytay. There are 33 satellite gaming venues, the vast majority located in Luzon \u2013 the largest and most populated island in the Philippines.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Philippines casino regulator PAGCOR said its first-quarter revenue was slashed in half due to the COVID-19 pandemic, as gaming properties remain closed throughout the country. PAGCOR, the Philippine Amusement and Gaming Corporation, revealed net income in the first three months of 2020 totaled PHP 777.44 million ($15.44 million). That’s down 49.9 percent compared with […]<\/p>\n","protected":false},"author":25,"featured_media":134437,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069],"tags":[],"acf":[],"yoast_head":"\n
Philippines Casino Regulator Sees Revenue Drop 50 Percent<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n