Recovery from COVID-19 has been painful for the gaming industry everywhere, especially in the Philippines.The good news is that things are back to normal and the Philippines Amusement and Gaming Corp (PAGCOR) love to see it.
Gaming regulators and casino operators reported gross gaming revenue (GGR) for the third quarter was PHP3 billion (US$493.6 million).This represents an increase of 8.607% from the second quarter and an increase of 2% from 7.6.
Private casino resorts, including Manila's Entertainment City, generated PHP90.7 billion (US$447 million), accounting for 5000% of the total.This is a 7% increase from the previous quarter and a 8000% increase from the previous year.
philippine gaming bounce back
Casino GGR figures do not include income from currently banned electronic gaming venues, bingo and e-sabong. PAGCOR-affiliated casinos increased by 21.6% to PHP46.3 billion (US$8070 million), which does not include bingo revenue from its own venues.
PAGCOR-affiliated casino table game GGR increased by 3% to PHP34.2 billion (US$13.2 million) in the third quarter.Slot machines increased by 3085% from PHP 21.2 billion to PHP 23.7 billion (US$ 3695 million to US$ 4130 million).
PAGCORは、総収入が73.5％増の422億7000万PHP（7億3676万米ドル）、ゲーム事業からの収入が75.8％増の391億7000万PHP（6億8273万米ドル）であることを追加しました。
With this improvement, PAGCOR posted a net profit of PHP1 million (US$490 million).This resulted in a net profit of Php182 billion (US$1 million) from January to September.
It wasn't until earlier this year that land-based casinos returned to normal in the Philippines.Other gambling centers, such as Las Vegas, were already fully operational by then.However, some casinos, such as those in Macau, are still trying to spread.
Legal Nightmare Ends for PAGCOR Officials
A lawsuit against PAGCOR's former vice president of finance, Estela Pelayo Ramos, has been dismissed.The judge ruled that there was no evidence to proceed further.
Mr Pelayo Ramos faced charges that he favored BIDA Productions in a series of transactions totaling Philippine dollars 2005 million (US$10 million) between October 2009 and October 10 .However, the court confirmed that all payments to BIDA went through PAGCOR's respective offices and were approved before reaching Ramos.
The incident may have been a diversion by those looking for scapegoats. BIDA is a multi-faceted company producing several films.One of them was "Baler", the 1 production of which led to charges against the company by PAGCOR.
Game regulators determined that BIDA attempted to raise production costs illegally and sued them for misappropriating public funds.As the trial progressed, several BIDA executives, including former CEO Efraim Genuino, were found to have ties to PAGCOR.
Among them was former CEO Ephraim Genuino.Because of this, Genuino was able to manipulate traces on paper.
Recently, some lawmakers have called for the dissolution of PAGCOR.The reason is that the organizations controlling their operations have a conflict of interest.This is similar to a similar effort several years ago, and so far the initiative has not received buy-in.
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