POGO going, gone

Despite the termination of all Philippine Offshore Gaming Operators (POGO), state gaming regulator Philippine Amusement and Gaming Corp. (Pagcor) is expected to meet industry gross gaming revenue (GGR) targets.

More industry players are expected to enter the scene, as additional integrated resorts are expected to launch in the following years, which could further prompt local employment and tourism rates.

Analysts see potential projects launched by Newport World Resorts in Boracay and Lapu-Lapu City in 2026, while Bellecorp is eyeing Clark as a potential location for a new integrated resort in 2027.

In the first half, Pagcor recorded a 14.62-percent year-on-year growth in GGR, which rose to P170.93 billion, with the second quarter GGR reaching P89.23 billion or 32.32 percent year-on-year. The increase in GGR lends optimism to Pagcor being on track to meet its P335-billion industry GGR target by end 2024.

Since 2008, Pagcor has approved five integrated resort projects, with four already launched (Resorts World Manila, Solaire Resorts & Casino, City of Dreams Manila, and Okada Manila) and one estimated to open in 2025 (Resorts World West Side City).

Pagcor data indicated that integrated resorts continue to drive growth, accounting for 76 percent of Philippine casino GGR in 2023.