MANILA - The Philippine Amusement and Gaming Corporation (PAGCOR) said on Thursday it is set to launch its own online casino in the first quarter of 2024.
PAGCOR Chairman and CEO Alejandro Tengco said the gambling site, dubbed as "casinofilipino.com” aims to employ virtual reality-based technology that can simulate the sights and sounds of a physical casino.
“It will allow players to interact with the digital counterparts of traditional casino games. It will also transcend physical boundaries and will enable users from around the world to interact and participate in virtual environments,”
The online casino can reach a global audience and allow PAGCOR to tap into new markets, he said.
Aside from this, PAGCOR is also modernizing its slot machine operations.
“We have already taken the preliminary steps and entered into negotiations with different manufacturers for the modernization of our slot machines. We expect our customers to have a renewed gaming experience as we endeavor to enhance our game offerings by replacing our old machines with a total of 3,500 brand-new units of Electronic Gaming Machines under a lease agreement between PAGCOR and the manufacturer,” he said.
PAGCOR said it will also develop its own IT programs and systems to help “fine tune PAGCOR’s Casino Management System.”
The state-run gaming regulator and operator said its total income from from January to June of 2023 has reached P34.125 billion.
Tengco said that PAGCOR may reach or even surpass its pre-pandemic income by the end of 2023. He said their income in the second half is projected to hit P37 billion, which will brings their full year income to P71 billion.
“This is 94 percent compared to the 2019 record-breaking year of PAGCOR. If realized, it will be 30 percent higher than last year’s income of P55 billion,” Tengco furthered.
PAGCOR recently stirred controversy for spending P3 million on a logo redesign which was panned by netizens and graphics artists.