Noticias de ultima
  • 12.00 EGT, confirmed sponsor at Expo Congreso de Juego- Luis Escribano
  • 12.00 GAT Brazil Lands in São Paulo Next Year
  • 12.00 CT Interactive presents Hell’s Hot 7’s: Treasures of the Sevens
  • 12.00 Sportsbook solutions: Altenar joins forces with Gamblr
  • 12.00 MINCETUR Highlights Strong Performance of Regulated Gaming in Peru with Over 20,000 Procedures Managed
  • 12.00 Grupo Jetnasa: “Triple Charm journey from Zitro has everything”
  • 12.00 Casino Earnings in Maryland Dip in June, Leading to Decline in Education Fund Contributions
  • 12.00 Thailand’s Casino Industry Faces Setback Amid PM Paetongtarn Shinawatra’s Suspension
  • 12.00 Cabo Verde gives Macau Legend a last ultimatum over delayed hotel and casino development
  • 12.00 Casino licensee deemed suitable to operate Crown Perth in Australia
Others

PAGCOR plans to lower rates for online and retail casinos

Wednesday 20 de March 2024 / 12:00

2 minutos de lectura

(Manila).- The Philippine Amusement and Gaming Corporation (PAGCOR) has revealed plans to lower gross gaming revenue (GGR) remittance rates for casinos.

PAGCOR plans to lower rates for online and retail casinos

The remittance rates will be lowered by 5% across both online and on-site casinos and will be effective from 1 April 2024.

Alejandro Tengco, PAGCOR Chairman and CEO, said: “The remittance rates should then average around 35% of GGR, which is quite significant because when we assumed office in August 2022, the prevailing remittance rate was over 50%.

“We have gradually lowered them so that by 1 April, our rates will be at par with global industry standards.”

Tengco has explained that this is part of a wider initiative to attract greater gaming investment into the Philippines, as well as to encourage illegal casinos to secure a licence.

He also continued to emphasise the three major factors he hopes will contribute to a stable, long-term industry.

Tengco said: “These are the entry and operations of more integrated casinos, the strong performance of the Electronic Games sector, and the benefits from the planned privatisation of PAGCOR casinos.”

According to the most recent PAGCOR reports, the authority anticipates the regulated casino industry to generate PHP$336.38bn (US$6bn) in GGR.

Tengco continued: “We expect gaming revenues to sustain growth this year and beyond with the increasing demand for leisure, travel and entertainment from both local and foreign tourists.

“We will also have at least one new integrated resort opening every other year starting with Solaire North in Quezon City which will open its doors in the first half of 2024, followed by another one in Clark, with several more in the pipeline, including one in Cebu.

“At the same time, this will allow us to ensure safe and responsible gaming while sustaining our contributions to nation-building.”

This isn't the only recent financial move from PAGCOR either, as the Corporation recently appealed to the Government regarding pay changes to its staff.

Categoría:Others

Tags: Sin tags

País: Philippines

Región: Asia

Event

Peru Gaming Show 2025

18 de June 2025

MINCETUR Highlights Strong Performance of Regulated Gaming in Peru with Over 20,000 Procedures Managed

(Lima, SoloAzar Exclusive).- In the annual report from the General Directorate of Casino Games and Slot Machines, Director General Yuri Guerra Padilla emphasized the collaborative efforts between the government and private sector to strengthen Peru’s gaming industry. With record figures, administrative progress, and an educational approach, the regulator reaffirms its commitment to legality and modernization.

Tuesday 08 Jul 2025 / 12:00

Enrique Jütten Highlights Innovative Technology's Success at Peru Gaming Show 2025

(Lima, SoloAzar Exclusive).- Enrique Jütten, VP of Sales & Business Development GAV at Innovative Technology, shares insights from the latest edition of the Peru Gaming Show, emphasizing the importance of the Latin American market and the positive response to their tech solutions.

Tuesday 08 Jul 2025 / 12:00

IAG Play Stood Out at PGS 2025 with Innovative Games and Latam Expansion

(Lima, SoloAzar Exclusive).- Fernando Polti, CTO of IAG Play, shared insights about the products showcased at the 2025 Peru Gaming Show, emphasizing a strong offering inspired by the gaming universe. With titles like high-volatility Crash Games, immersive Fantasy experiences, and the successful Scratchers, the company captivated operators and regulators, sparking new partnerships across Peru and Latin America. What makes their portfolio stand out? Read on to discover.

Friday 04 Jul 2025 / 12:00

SUSCRIBIRSE

Para suscribirse a nuestro newsletter, complete sus datos

Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.

PODCAST