While some call for a ban on online gaming in the Philippines, the country’s gaming regulator, PAGCOR, sees boundless opportunities in the digital realm. Undeterred by the calls, PAGCOR is boldly venturing into the online casino space with an ambitious project set to redefine the gambling experience!
PAGCOR’s visionary president and CEO, Alejandro Tengco, is spearheading an extraordinary initiative to create an innovative online casino called casinofilipino.com. What sets this platform apart is its pioneering use of cutting-edge virtual reality (VR) technology. With this immersive experience, players will be whisked away to a virtual realm that flawlessly captures the ambiance of a traditional brick-and-mortar casino!
Tengco is enthusiastic about the online casino’s potential to connect with players worldwide, thus unlocking new markets for exploration. However, some lawmakers advocate for PAGCOR’s operations to focus solely on regulations, potentially foregoing any casino ventures. The fate of PAGCOR’s online casinos hangs in the balance as these discussions unfold.
A tech-fueled casino turnover
Beyond the VR casino venture, PAGCOR is actively elevating its slot machine operations. Engaging in negotiations with various manufacturers, the regulatory body aims to upgrade its slot segment significantly. The goal is to replace outdated machines with 3,500 state-of-the-art gaming devices, all in adherence to the contractual agreement between PAGCOR and the manufacturer.
Moreover, PAGCOR is dedicated to enhancing its casino management system. The agency is developing in-house computer software programs to seamlessly integrate into its existing infrastructure, fostering a seamless and efficient gaming environment.
Philippine Amusement and Gaming Corporation’s impressive earnings for the first half of 2023 have showcased its resilience and potential. With PHP 36.21 billion ($663 million) in revenue, driven by PHP 136.37 billion ($2.5 billion) in gross gaming revenue, the regulatory body is confidently projecting robust growth.
Tengco’s optimistic outlook anticipates surpassing pre-COVID-19 profit levels by year-end. Projected income of PHP 37 billion (US$676 million) in the latter half of the year will contribute to a substantial annual income of PHP71 billion (US$1.29 billion), underscoring PAGCOR’s formidable standing in the gaming landscape.
The controversial logo revamp
Amid the casino ventures, the Philippine Amusement and Gaming Corporation has faced scrutiny for its recent logo update. Media outlets reported a PHP3 million (US$54,810) expense for the redesign, leading to complaints.
Tengco clarified that the cost encompasses “other deliverables” like manuals, stationery, and brochures, alongside the logo. The revamped design portrays a flame in striking red and blue hues, symbolizing energy, inspiration, passion, and transformation. It also serves as a guiding light to lead people on their path.
PAGCOR: Steering toward a strong foundation!
As the Philippine Amusement and Gaming Corporation strives to fortify its image, the new logo will adorn all managed properties across the Philippines, incurring additional costs. A fresh brand appearance aligns with PAGCOR’s vision for a powerful and steadfast identity.
With an eye on the future and a commitment to embracing technology, PAGCOR charts a course toward revolutionizing online gaming. The virtual reality casino is set to mesmerize players, solidifying PAGCOR’s position as a trailblazer in the gaming world!
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