MANILA -Local casino experience will soon go to bettors instead of the other way around as Philippine Amusement and Gaming Corp. (Pagcor) plans to join the digital bandwagon with the launch of its online casino in the first quarter of 2024.
The Philippines’ industry player-cum-regulator announced this during an industry forum in Pasay City on July 20.
The plan is being pursued amid ongoing efforts to modernize Pagcor’s slot machine operations.
Pagcor expects that such initiatives will further boost market growth, provide a more convenient gaming experience to players and encourage healthy competition.
In a statement, Pagcor chair and chief executive Alejandro Tengco said that its online gaming platform, casinofilipino.com, would use virtual reality-based technology that can simulate the sights and sounds of a physical casino, thereby offering a realistic and immersive gaming experience.
Global audience
The online casino “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,” Tengco said.
Also, the online casino “can reach a global audience and can establish a presence in virtual communities of avid gamers,” he added. “It will likewise offer an opportunity to tap into new markets and diversify its customer base.”
Tengco further said the online casino was expected to result in increased revenue, extended reach and market expansion, cost efficiency and enhanced customer engagement.
Meanwhile, Pagcor has entered into negotiations with different manufacturers for the modernization of its slot machines.
The modernization plan also includes the development of Pagcor’s Information Technology programs and systems to help finetune its casino management system.
“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,” Tengco said.
The Pagcor chief said the technology upgrade would facilitate real-time reporting and analytics, ensure security and fraud prevention, optimize financial management and streamline compliance requirements.
In the first half of 2023, industry revenues rose by 48.7 percent to P136.4 billion from P91.7 billion.