The Philippine Amusement and Gaming Corporation (Pagcor) has announced an ambitious strategy to enter the internet casino market with the introduction of its first-ever iGaming platform, Casinofilipino.com. This historic step, set to launch in the first quarter of 2024, promises to provide consumers across the Philippines with a legal and immersive online gaming experience under Pagcor’s respected umbrella.
Pagcor, a long-time operator of real casinos, is eager to reproduce the attractiveness of its physical venues on Casinofilipino.com. The platform seeks to capture the sights and sounds that distinguish the traditional casino experience, all within a seamless virtual setting, with a special focus on offering an engaging gaming environment.
According to Pagcor’s Chairman and CEO, Alejandro Tengco, the introduction of the online casino promises a plethora of potential, including more revenue, a larger reach, cost efficiency, and improved consumer involvement. Casinofilipino.com overcomes geographical barriers by allowing players to interact with digital equivalents of beloved casino games, allowing people worldwide to participate in the virtual gaming environment.
Pagcor hopes to reach a global audience and develop a strong presence in ardent gaming communities throughout the world by operating Casinofilipino.com in the cloud. This expansion allows Pagcor to enter new areas and broaden its customer base, strengthening its position in the competitive iGaming environment.
Pagcor’s foray into iGaming is part of a larger modernisation strategy that includes not only the internet platform but also the company’s current land-based casino operations throughout the Philippines. The company has already begun modernizing its slot machine operations, with plans to replace obsolete machines with 3,500 brand-new devices under a lease agreement with manufacturers. The attempt strives to improve consumers’ gaming experiences, assuring a renewed sense of excitement.
Pagcor is devoted to developing cutting-edge IT programs and systems that will fine-tune its casino management system in order to further enhance the casino experience. The firm hopes to improve operational efficiency, improve customer experience, enable real-time reporting and analytics, improve security and fraud prevention, streamline financial management, and assure regulatory compliance by embracing digital advances.
Pagcor is expanding into the iGaming business while also stepping up efforts to prevent illegal gambling in the Philippines. Recent operations have included a raid on Xinchuang Network Technology Inc (Pogo) and the cancellation of licenses for Sun Valley Clark and CGC Technologies due to their involvement in unlawful activities. Pagcor has also joined the Clark Security Advisory Council to strengthen its efforts against illegal gambling.
Pagcor’s entry into iGaming follows a strong financial performance in the first half of 2023. The company recorded significant income of P36.21 billion, a 35.6% increase over the same period in 2022 and near to pre-pandemic levels. The strong increase in overall income is due to a jump in the Philippines industry’s gross gaming revenue, which reached P136.37 billion, up 48.7% from the previous year.
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