Economics and statistics

The gambling economy in the Philippines relies on the integrated resorts of Entertainment City/Manila, Clark and Cebu, generating the bulk of GGR and a multiplier of employment in hotels, MICE, retail and F & B.

Budget receipts are made up of gaming gross revenue taxes, PAGCOR license and regulatory fees, local charges (LGUs), and corporate and indirect taxes.

Revenue structure shifts to premium mass segment and non-cash transactions; online share is growing through PIGO/Remote Gaming with hard eKYC/AML.

In parallel, the curtailment of offshore POGO reduces external risks and "gray" flows, but removes some of the quasi-income.

Investments are in IR expansion, live studios and digital platforms.

Key volatility factors - tourist flow and air traffic, exchange rate, compliance costs and weather and natural risks; restraining measures - stable PAGCOR supervision, standardization of reporting and emphasis on responsible play.