PAGCOR still confident of meeting revenue target

THE gaming regulator is still confident of meeting its revenue targets, despite the attack on Resorts World Manila.

Philippine Amusement and Gaming Corporation (PAGCOR) Chairperson Andrea D. Domingo said that the Resorts World Manila attack won’t make a dent in its revenue performance, as she remained confident in hitting its P60 billion gross gaming revenue target, as well as the whole gaming industry’s P160 billion target gross gaming revenue for the year.

Although the regulator is still assessing the incident’s impact on the gaming industry, Ms. Domingo said that gamblers are expected to patronize other casinos in Metro Manila.

“It seems like everything is normal for the gamers. The (other) casinos they haven’t lost any, some even have gained some players. That’s how the gaming industry is. People who want to game, they go to other places when one place is not available,” said Mr. Domingo in a forum in Manila yesterday.

“In the last few days, there’s not much impact, except yung sa RW (Resorts World),” she said although noting that it has yet to assess that casino’s actual losses.

Asked whether martial law in Mindanao will affect PAGCOR revenue, Ms. Domingo said: “It’s not affected except when we removed the Iligan [ branch], since the people will be put in danger. But their contribution to our gross revenue is very miniscule. For now, we haven’t seen any effect on the gaming industry from the Mindanao situation.”

Last year, PAGCOR recorded a total of P55.06 billion in gross gaming revenue, up 16.62%.

PAGCOR required Resorts World Manila to submit all video footage as it is currently looking into possible negligence on its part that may merit a penalty.

“We want to know the truth so that we can legally and fairly make an

assessment any punishment of any disciplinary actions may be based on,” she said.

Ms. Domingo said that the penalty will depend on whether provisions in Resorts World Manila’s contract with the gaming regulator were violated.

She said that penalties may involve a reprimand, or a suspension of its license.

Moreover, the PAGCOR chair said the regulator is going ahead with a moratorium on the issuance of new casino licenses in Metro Manila amid fears of oversaturation. It turned down a proposal from a Las Vegasbased gaming firm recently — which