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Pagcor reports Philippine gaming revenues back to pre-pandemic levels

MANILA, Philippines — More than three years after the COVID-19 pandemic and its resulting lockdowns and quarantine restrictions that lasted more than a year, the country’s gaming industry has finally bounced back with gross gaming revenues back to the pre-pandemic levels, according to Philippine Amusement and Gaming Corp.

(PAGCOR) chairman and chief executive officer Alejandro Tengco.

During the RGB Connect Gala Night at Hilton Clark Sun Valley Resort in Pampanga over the weekend, Tengco said that PAGCOR was bullish on this sustained growth in the immediate future.

He added that the lifting of travel and movement restrictions has fueled demand for dining, shopping and other outdoor activities that were not possible during the height of the pandemic.

The PAGCOR chief projected that the increased demand for leisure, travel and entertainment will sustain the growth trajectory of the Philippine gaming industry in the coming years.

“And so, one year into the term of President Marcos, our gross gaming revenues have returned to near the levels of 2019 which was the year PAGCOR achieved its all-time high for Philippine GGR levels,” he said.

“Today, we expect the 2023 GGR to match, if not surpass, our 2019 record. Not bad, considering that many of our traditional high rollers and junkets have not fully returned, but our domestic players and the influx of new tourists have filled the void,” he added.

The future growth of the local gaming industry would also be supported by the opening of more integrated resorts, including those in Clark, according to Tengco.

“Clark is projected to become a major gaming and tourism hub before the end of this decade. If you go around Clark, you can see its immense potential,” he said.

“You can see the infrastructure in place, you can see the surrounding tourist destinations, and you can see the new buildings and new commercial districts being developed in all directions,” he added.

Source: Philstar Global