Tag Archives: Philippines
Philippines – Philippine junket operator suddenly shuts down VIP rooms
Philippine junket operator OKBet Infinity, who runs VIP rooms in Okada Manila, Newport World Resorts, City of Dreams Manila, Hann Casino Resort and NUSTAR, has shut all of its Philippines VIP rooms. The company stated: “We solemnly announce that through the company (Okbet Infinity Inc.) The final decision of the board of directors is that…
Philippines – Philippine casino revenues increase for seventh consecutive quarters
Casino revenues in the Philippines continue to find momentum, increasing in the first quarter of 2023 to reach Php68.9bn (US$1.24bn), marking seven consecutive quarters of increasing revenues. Gaming regulator PAGCOR revealed that revenues generated from its own PAGCOR-branded casinos in the first quarter was Php5.13bn (US$92m), more than doubling from the Php2.62bn (US$47m) in the…
Philippines – Philippine Senators want to call time on Philippines Offshore Gaming Operators
A high-profile politician in the Philippines has called on the country’s President to end the Philippines Offshore Gaming Operators (POGO) ‘experiment’ claiming it has opened the door to new forms of crime. The chair of Philippines Senate’s Committee on Ways and Means Senator Sherwin Gatchalian said: “POGOs have created new avenues for crime and corruption,…
Philippines – Licensed casinos up 14 per cent quarter-to-quarter in the Philippines
PAGCOR, the Philippine casino operator and regulator, has confirmed that licensed casinos surged in the three months to December 31, producing US$934m in GGR, which was up 94.6 per cent compared to the same quarter in 2022 and 14.4 per cent up from the sequential September quarter. This marks six consecutive months of rising revenues…
Philippines – New casinos to push Philippine GGR passed $10bn by 2027
Analysts at GCG Gaming Advisory Services believe that fueled by the opening of new casinos, the Philippines casino sector will generate GGR of US$10bn by 2027, doubling its revenues in just five years. The firm is predicting that GGR will bounce back to 2019 levels of US$5bn next year, increasing from the predicted 2022 total…
Philippines – PAGCOR gives ‘cease and desist’ order to Kazuo Okada
Philippines gaming regulator PAGCOR (Philippine Amusement and Gaming Corp) has given a ‘cease and desist’ order to the Kazuo Okada-led board of TRLEI and told them to leave the Okada Manila Casino Resort to give power back to the previous board. The group of businessman Antonio “Tonyboy” Cojuangco was ordered to cease and desist by…
Philippines – Invitation only mass gaming drives recovery at Solaire
Bloomberry Resorts Corporation, whose subsidiaries own and operate Solaire Resort & Casino and Jeju Sun Hotel & Casino, saw its casino revenue double during the last quarter to the year ended December 31, 2021. Total GGR at Solaire was P8bn, representing an increase of 50 per cent from P5.3bn in the fourth quarter of 2020…
Philippines – Upturn at Okada Manila unable to save Universal’s year
Despite Philippine resort casino Okada Manila reporting a 27.2 per cent increase in sales to US$305m, giving a profit of US$46m in 2021, its owner Universal Entertainment Corp reported an overall loss of US$166m. GGR at the casino came in at US$164m with more than 1.8 million people visiting the property during the year. Net…
Philippines – Gaming revenue at Okada Manila jumps 68 per cent quarter on quarter
Having reopened in mid-October albeit with some limitations om attendance, Okada Manila in the Philippines, generated GGR of Php7.01bn (US$137.4 m), a 68 per cent jump from the previous quarter with no revenue generated in the corresponding quarter year earlier. The venue’s owner, Tiger Resorts, Leisure and Entertainment, said that the increase was driven by…
