Philippine gambling sector on the rise according to PAGCOR
PAGCOR’s CEO, Alejandro Tengco, recently stated that the gambling sector of the Philippines has returned to its performance before the pandemic.
During the recently held RGB Connect Gala event in Clark, Philippines, PAGCOR’s CEO stated that the country’s gambling sector has been able to return to its pre-pandemic state. Tengco also stated that the increasing prevalence and demand for various entertainment services in the country will help maintain the industry’s healthy growth momentum over the coming several years.
PAGCOR’s CEO, Alejandro Tengco, commented:
“It is expected that the gross revenue of the gambling sector for 2023 will match and even surpass the industry’s performance four years ago before the start of the pandemic. This increase is despite the fact that many foreign operators have not yet returned to their pre-pandemic performance, with local operators filling their gaps and helping the Philippine gambling industry as a whole make progress.”
The main drivers for the Philippine gambling sector’s growth have been the relaxation of travel restrictions all across the globe, which has sparked the demand for tourism in the Philippines. This in turn contributes to increased demand for gambling experiences, helping the sector maintain its healthy growth momentum.