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The Filipino gaming industry will recover with e-cock fights and online gambling

The Philippines plans to revitalize its gambling industry by attracting foreign operators, allowing betting for local residents and providing new services such as horse racing and cockfighting.

The Philippines is reviving its economy with more online gambling and betting

The Philippines is moving towards introducing online gambling for local operators, expanding overseas, and creating new gambling products such as horse racing and cockfighting to meet local demand. Regulators will pave the way for casinos and resorts to integrate online games for foreigners and residents as the industry has been cut off from overseas revenues due to a lack of players.

Recovery plan prepared by the president's administration Rodrigo Duterte aims to bring the economy out of the current crisis faster by means of higher gaming income. Some precautions are needed as the industry has experienced a wave of corruption scandals and backlash from China.

The Philippines is very popular with foreign operators who came to the country mainly to target foreign customers, mainly Chinese.

Beijing's gambling opposition, border closure and higher taxes proposed by the Manila government have wreaked havoc on the country's gambling industry, which is bleeding money, unable to generate new income as the government tries to make up for lost income.

E-cockfight and horse racing from the Philippines to Great Britain and South America

Online rooster fights outside the Philippines are planned, targeting customers in South America, while online horse racing and dog racing will target audiences in the US and UK.

During a webinar hosted by Asia Gaming Brief, the region's industry-leading publication, Andrea Domingo, president of Philippine Amusement and Gaming Corp. (PAGCOR) said the regulator focuses on countries outside of Asia and believes there may be a South American cockfight market.

The Philippines will move towards local plants

Creating a more national model of online betting in the Philippines could solve the current problem with a foreign-dominated market as well as help increase gambling revenues from local betting.

Domingo also stated that until recently, elderly people were not allowed to gamble because they were not allowed to leave their homes, and as a result, the casino's income fell.

Based on PAGCOR estimates 'Gross revenue from gambling in casinos stationary fell to 73 billion pesos ($ 1.52 billion) in September, and in 2019 the GGR hit a record 251 billion pesos. ”

Meanwhile, consumers' attention shifts to the internet. If the Philippines revives the gambling markets with online gambling and betting solutions and PAGCOR successfully penetrates overseas, the industry will be back on its feet.

During the webinar, AGB Domingo also stated that Solaire of Bloomberry Resorts and another smaller casino have already received online betting approvals. City of Dreams Manila and Okada Manila, both of which are multi-billion dollar casinos, have also asked for approval for online betting. PAGCOR has also licensed a unit from the Philippine DFNN to have a remote gaming platform that will allow players to remotely access gambling products.


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