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PAGCOR CEO Alejandro Tengco says their Casino Filipino venues could generate as much as P50 billion (US$847.8 million) when the privatization process begins. The Philippine Amusement and Gaming Corp (PAGCOR) is set to roll out nearly 2,000 modern slot machines across its Casino Filipino branches by the middle of December 2024. This move is part of the government-owned corporation's ongoing efforts to modernize its gaming operations. Alejandro Tengco, PAGCOR's chairman and CEO, confirmed the first batch of machines, consisting of 1,968 units, was already delivered and will go live in the coming weeks. Tengco disclosed that these new slot machines are part of a broader plan to upgrade the Casino Filipino network, which includes more than 40 land-based casinos and "satellite casinos" that operate in leased venues. The slots, purchased from the casino equipment supplier RGB International Bhd, are set to enhance the gaming experience for both local and international players at PAGCOR's properties. The machines represent the first batch of a total order of 3,000 slot machines, part of a modernization initiative aimed at revitalizing the Casino Filipino brand. The total value of this initial contract is over US$81.3 million, which includes a variety of electronic gaming machines from well-known third-party brands. These include 888 units from Light & Wonder, another 888 from Aristocrat, 150 units from Konami, and 42 units from KL Saberi. Tengco emphasized that these new machines are part of a broader strategy to improve the quality of Pagcor's gaming offerings before the agency moves forward with plans to privatize its casinos in the near future. “The first batch has been delivered and will be going live in the middle of December,” Tengco was quoted as saying in an interview with GGRAsia.  He added that the second batch of machines is expected to be deployed in the early part of 2025. This modernization is part of a long-term plan to improve PAGCOR’s land-based operations before transitioning its focus to regulatory work. According to Tengco, PAGCOR intends to privatize its network of Casino Filipino venues by 2026, with the privatization process expected to start in 2026, not mid-2025 as originally anticipated. The privatization plan follows a decision by PAGCOR to eventually phase out its role as an operator of casinos. This shift would allow the agency to focus more on its regulatory functions while potentially raising significant capital from the sale of the land-based operations. Tengco noted that PAGCOR's Casino Filipino venues could generate as much as P50 billion (US$847.8 million) when the privatization process begins. The planned transition comes with the need for amendments to PAGCOR's charter, which would enable the privatization of the agency's gaming properties. Tengco explained that the agency is already working on the necessary amendments, which are expected to be finalized by next year. "Next year will be allocated for the amendments," Tengco said, noting that the government will need to update the agency's legal framework to move forward with the privatization process. The sale of PAGCOR's land-based casinos has been a topic of discussion for some time. In March 2023, the government revealed plans to sell the Casino Filipino network in a bid to raise funds and shift Pagcor's focus to its core regulatory duties. The move is expected to help Pagcor streamline its operations, reducing the agency's role in day-to-day casino management, while also bringing in much-needed revenue for the government. Although the privatization timeline has been adjusted over the past year, with initial estimates placing the sale in 2025, Tengco's recent remarks indicate that the privatization process will take longer than initially expected. With PAGCOR's charter requiring amendment, the shift to a regulatory-focused entity will likely take time to implement. Read related article: PAGCOR Seeking Partner for Online Casino Launch in 2025

PAGCOR aims to find a joint venture partner for its online casino brand, casinofilipino.com, by early Q2 2025 through a procurement process. The Philippine Amusement and Gaming Corp. (PAGCOR), the country’s gaming regulatory body, is moving forward with plans to establish its own online casino brand, casinofilipino.com. According to PAGCOR Chairman and CEO Alejandro Tengco, the agency aims to identify a joint venture partner by the end of the first quarter or early in the second quarter of 2025. This will be done through a formal procurement process, marking a key milestone in the project’s development. If all goes as planned, casinofilipino.com could go live as soon as the second quarter of 2025. Tengco confirmed that PAGCOR is committed to ensuring the online casino is developed responsibly and in compliance with regulatory requirements. The procurement process to secure a joint venture partner is expected to begin in earnest in January 2025. Tengco emphasized that the selection of a partner would be handled through a fair bidding process, ensuring transparency and accountability. “You cannot just award it to somebody…without going through a procurement process,” said Tengco in an interview with GGRAsia during a Macau event organized by casino equipment supplier LT Game Ltd. The goal, he added, is to identify a company that can help bring the vision for casinofilipino.com to life, offering a wide range of online gaming options to Filipino players. A Comprehensive Online Gaming Experience Once launched, casinofilipino.com will not be limited to traditional online slots. Tengco outlined a broad vision for the online casino, which will feature a diverse array of gaming products. These will include live slots, as well as Random Number Generator (RNG)-based games. RNG technology is commonly used for electronic table games, ensuring fair outcomes through software-driven randomness.  In addition to these options, PAGCOR plans to introduce live streaming services, featuring real-time baccarat games and possibly other popular casino titles. This will allow players to engage in a full-spectrum gaming experience from the comfort of their homes. Tengco described the offering as an “all-encompassing menu” that would cater to a wide variety of player preferences. “We will not only have live slots, but also RNG games being played online,” Tengco stated. “We also [will] have live streaming of studios that are having baccarat games.” This initiative is part of PAGCOR’s broader strategy to expand the country’s regulated online gaming market. The launch of casinofilipino.com is expected to play a significant role in reshaping the landscape of the Philippines' digital gaming industry. Delayed Timelines and Adjusted Plans While the original timeline for casinofilipino.com had initially targeted a launch in the first quarter of 2024, the project has faced several delays. Tengco acknowledged that the timeline has been adjusted multiple times, with the new target for going live now set for the second quarter of 2025. This adjustment reflects the complexities involved in launching such a major initiative and ensuring all necessary regulatory, technological, and business processes are in place. The online casino project follows the government's broader plans to restructure the country’s gaming sector. In March 2023, PAGCOR had announced plans to sell off the land-based Casino Filipino properties, which include a chain of casinos located throughout the Philippines. The sale was expected to raise up to P80 billion (US$1.36 billion). However, as the process progressed, the projected revenue from the sale has been revised downward to P50 billion, and the timeline for the sale has also shifted. Initially, the sale of the land-based operations was scheduled to begin in 2024, but the process is now expected to start in 2026 due to changes that need to be made to PAGCOR’s charter. Tengco noted that the agency would need to invest in upgrading the gaming equipment at the Casino Filipino properties before any sale could take place, which has contributed to the delay. Read related article: ACN Spotlight: NYCE On How PAGCOR Can Shift to Regulatory Role

In Q3 2024, the office market in Metro Manila saw a decline in net take-up, marking the first negative quarter since Q4 2021, driven by POGO lease terminations. The office market in Metro Manila has experienced its first negative net take-up in a quarter since Q4 2021, as the Philippine government’s ongoing ban on Philippine Offshore Gaming Operators (POGOs) continues to impact leasing activity.  The decline, which took place three months since the pronouncement of the POGO ban , has been driven by POGO lease terminations as well as non-renewal of leases that were closed before the pandemic.  According to recent reports from Colliers as quoted by the Business World, the Metro Manila office market saw a decline of 33,000 square meters in net take-up for the third quarter (Q3) of 2024, as lease terminations and non-renewals by POGO operators grew more prevalent. This marks a significant shift in the market, with concerns over rising vacancies and potential stagnation. Despite these challenges, key indicators show that the market is far from collapsing. Demand from traditional office tenants and outsourcing firms, particularly in the Information Technology-Business Process Management (IT-BPM) sector, has remained strong, offering cautious optimism for the remainder of the year.  POGOs Head for the Exit The Philippine government's crackdown on POGOs, which have long been a substantial presence in the local office market, has contributed significantly to the current vacancy issues. As of Q3 2024, a total of 57,000 square meters of office space was surrendered by POGO operators, and an additional 157,000 square meters is expected to be vacated by year-end. At its peak, the POGO sector leased approximately 1.3 million square meters of office space in Metro Manila, but today, their share of the market has dwindled to just 275,000 square meters, representing a mere 1.9% of the total office stock in the region. If not for the POGO ban, net take-up for 2024 would have likely exceeded 195,000 square meters, surpassing the total take-up for 2023. However, with the ongoing surrenders, Colliers now forecasts a flat or zero net take-up by the end of the year, indicating no net change in the amount of occupied office space from 2023 to 2024. Robust Demand from IT-BPM and Traditional Occupiers Despite the POGO-driven vacancies, demand for office space in Metro Manila remains resilient. The IT-BPM sector, along with traditional firms such as government agencies, continues to account for the bulk of office transactions in the region. In Q3 2024 alone, there were 651,000 square meters of office transactions recorded, with 192,000 square meters being new leases. Notably, 53% of all transactions in the third quarter were attributed to traditional firms, including government agencies, while outsourcing companies (3POs) accounted for 29% and POGOs for just 11%. The remaining 7% was from shared services firms. While overall transaction volume was slightly lower compared to previous quarters (down 12% from Q2 and 2% from Q3 2023), the strong performance from traditional and outsourcing firms indicates a continued appetite for office space. The expansion of IT-BPM companies is a key driver of office demand, accounting for 70% of space take-up in the sector. Expansion activity is particularly pronounced in areas like Makati Central Business District (CBD), Fort Bonifacio, Quezon City, and Alabang, where many major outsourcing firms are located. These areas are expected to see continued growth in office demand, especially with the passage of new tax incentives in Quezon City that encourage office expansions and relocations. Provincial Markets Gaining Ground The positive performance of Metro Manila’s office market is mirrored in regional markets, where provincial office transactions have been steadily rising. In Q3 2024, 189,000 square meters of office space was transacted outside Metro Manila, up from 155,000 square meters in the same period of 2023. Cebu, in particular, has emerged as a key player, capturing 32% of total provincial transactions, and now rivals primary Metro Manila CBDs like Makati and Ortigas in terms of leasing activity. The growing demand in provincial markets is largely driven by outsourcing companies seeking to expand their operations beyond Metro Manila. With regional markets now accounting for nearly 29% of nationwide office deals (up from 20-25% in previous years), landlords are encouraged to increase their office space offerings in these areas to meet demand. Higher Vacancy Rates and POGO-Exposed Locations As a result of the POGO sector’s exit, the vacancy rate in Metro Manila’s office market has risen slightly, reaching 18.5% in Q3 2024, up from 18.3% in Q2. The increase is most noticeable in areas with high POGO exposure, such as the Bay Area and Makati Fringe, which are expected to see higher vacancy rates by the end of 2024.  Developers and landlords with office buildings previously occupied by POGOs are advised to offer additional concessions to attract new tenants. These spaces may be reconfigured or retrofitted to meet the needs of traditional firms or outsourcing companies, with flexible lease terms and tenant improvement allowances serving as attractive incentives.  Silver Linings Amid the Challenges While the office market faces challenges, there are still silver linings that offer hope for a recovery. The resilience of demand, particularly from the IT-BPM and traditional office sectors, suggests that the market is far from stagnant. High-demand submarkets such as Makati, Fort Bonifacio, and the Bay Area continue to see strong leasing activity, while provincial markets are showing promising growth. Landlords who can adapt to the evolving needs of tenants—by offering flexible, sustainable, and well-located office spaces—are in a strong position to capitalize on market opportunities. Furthermore, with Metro Manila’s overall vacancy rate expected to rise to 20.5% by year-end, developers with low vacancy rates may be well-placed to command higher rents and secure long-term tenants. Looking ahead, external factors such as the outcomes of the 2024 U.S. elections may also have an impact on the business environment, influencing future demand for office spaces in Metro Manila. Despite the uncertainties, the market’s overall resilience and ongoing demand for office space point to a cautiously optimistic outlook for the remainder of the year and into 2025. Read related article: Metro Manila Office Vacancy Rate Hits 20-Year High

The gaming industry in Macau saw a 355% increase in gross value added (GVA), while the hotel sector registered an 88.1% rise in GVA, highlighting significant growth. In 2023, the Gaming Industry in Macau made up 38.8% of the region's industrial composition, according to data from the Statistics and Census Service (DSEC), matching government projections. Compared to 2022, the majority of other businesses saw a growth in gross value added (GVA), but Macau profited most from the tourist sector's recovery. GVA increased by 355% in the casino industry and 88.1% in the hotel industry. With a total value of MOP$136.8 billion, Macau's gaming industry made up 38.3% of the city's total gross value added (GVA). Meanwhile, the GVA of the non-gaming sector increased by 20.7% year over year to MOP$220.73 billion, or 61.7% of the total GVA, a 12.9 percentage point gain over 2019. Aiming to lower the casino industry's GDP contribution to 40% during the next five years, the Macau government stated this goal in its "Plan for the Adequate and Diversified Development of the Economy (2024-2028)" released last year. Though DSEC's statistics indicate that the gaming industry's part of Macau's GVA has decreased, financial data as of October of this year shows that the year's total betting duty revenue was MOP$73 billion, or 81.6% of the government's total revenue of MOP$89.4 billion. Statistics on industrial structure show how much each industry contributes to the economy as a whole in terms of value added, or value added produced during an economic activity's production process. This comprises the value of the goods and services generated by the economic activity in question less the value of the goods and services used during production, such as rent, power, and water costs. Read related article: Macau GDP Grows 4.7% in 2024 Q3, Driven by Gaming Exports

The Japan Pachinko Industry is projected to shrink by 2028, with parlors dropping to 5,900 and machine units declining to around 3.08 million, reflecting market challenges. The once-dominant pachinko industry of Japan is facing a significant decline. Recent research by the Yano Research Institute indicates a steady contraction of the market, with projections suggesting a continued downward trend until 2028. As reported by Asia Gaming Brief, the pachinko market’s long-term decline was also attributed to the sluggish economic environment brought upon by regulatory requirement and the slow progression of improvements. In 2023, the combined revenue generated by Japan's pachinko and pachislot machines amounted to ¥15.7 trillion, representing a significant decline of over 50% from peak levels two decades ago.  Stringent regulatory changes implemented in 2018, requiring operators to invest in updated machines, have placed a considerable financial burden on the sector. The COVID-19 pandemic further exacerbated these challenges, disrupting operations and deterring customers. Additionally, Japan's aging population and shifting demographic trends have impacted the industry's traditional customer base. While the introduction of "smart pachislot" machines in 2022 has generated some renewed interest, particularly among younger demographics, it has not been sufficient to reverse the overall downward trajectory. The study also noted that a significant number of parlors closed the same year.  These innovative machines, featuring digital and touchless gameplay, have attracted a new generation of players, especially those drawn to anime-themed games. However, the industry's long-term prospects remain uncertain, as smaller establishments face increasing challenges and consolidation within the sector is expected. As the pachinko industry continues to evolve, it will be imperative for operators to adapt to changing consumer preferences, embrace technological advancements, and implement effective strategies to mitigate the impact of regulatory changes and demographic shifts. Read related article: ClawBuster on Younger Players' Impact on Online Gaming Tren ds

NEDA Regional Director states that the POGO ban presents an opportunity for Central Luzon to shift investments towards productive sectors that create jobs and boost income. Central Luzon’s economy registered 6.1 percent growth in its Gross Regional Domestic Product (GRDP) in 2023, equating to approximately P2.3 trillion, according to the National Economic and Development Authority (NEDA). This growth is seen as a positive sign of recovery after the severe disruptions caused by the COVID-19 pandemic. However, it marks a slight decline from the 8.1 percent growth the region experienced in 2022, which had been an extraordinary rebound from pandemic-induced economic slowdowns. While all provinces and highly urbanized cities in the region reported positive growth rates, with figures ranging from 4.6 to 7.5 percent, the most notable development came from the services and industry sectors. Particularly noteworthy is the shifting economic landscape following the recent ban on Philippine Offshore Gaming Operators (POGOs), which has affected several parts of the region, especially those reliant on this industry. The POGO Effect and Redirecting Investments The Philippines has long been a hub for POGOs, with Central Luzon seeing a significant rise in POGO-related businesses, especially in the cities of Angeles and Olongapo. These establishments, largely catering to online gaming operations, had been controversial due to their social and regulatory implications, but they also contributed to the local economy through jobs, real estate leasing, and services. However, with the government's recent crackdown and ban on POGOs, Central Luzon is now faced with the challenge of redirecting investments to more sustainable, job-creating sectors.  According to NEDA Regional Director Nerrisa Esguerra, this shift presents an opportunity for the region to focus on growth sectors that can deliver long-term benefits, such as agriculture, manufacturing, and digital services. Esguerra emphasized that while the exit of POGOs may be a setback, it also opens the door for better opportunities in industries that can foster more substantial, income-generating jobs. These include high-value sectors like information technology, business process outsourcing, and manufacturing, which are all well-positioned to absorb displaced workers from the gaming industry. Services and Industry Lead the Charge Despite the turbulence caused by the POGO ban, the services sector remains the region's top economic driver. Contributing nearly half of the region's total GRDP, services posted impressive growth, surpassing pre-pandemic levels since 2022. Esguerra noted that the services sector’s growth is not just vital for the region’s economy but also for ensuring the sustainability of other industries such as agriculture and manufacturing. "The services sector continues to demonstrate a robust performance. Therefore, it will be crucial to sustain its growth and ensure that services are linked and add value to the outputs of the industry and agriculture sectors," Esguerra was quoted as saying in an article published by the Manila Times.  A key initiative to maintain momentum in the services sector has been the push to integrate micro, small, and medium enterprises (MSMEs) into the digital economy. Through increased access to e-commerce platforms and digital tools, businesses in the region are being empowered to streamline operations, improve efficiency, and reach a broader market. This initiative aligns with the government’s broader agenda to digitize the economy and support MSMEs, a sector crucial for job creation in the Philippines. In addition to services, the industry sector has also been a major contributor to growth, accounting for 42.3 percent of the region’s GRDP. Central Luzon’s strategic location, particularly its proximity to Metro Manila, continues to make it an attractive destination for investments, especially in manufacturing and logistics. NEDA plans to leverage this geographic advantage to sustain industrial growth and further boost the region’s appeal to both local and foreign investors. Agriculture Shows Promise Amid Challenges While agriculture continues to be an important sector in Central Luzon, contributing 10.8 percent to the region's GRDP, its growth remains constrained. The sector grew by just 2.6 percent in 2023, up slightly from 2.1 percent in 2022. The increase is encouraging but still not enough to bring agriculture back to pre-pandemic levels, which had seen more robust growth. Frequent weather-related disasters and climate change continue to pose challenges to agricultural productivity in the region. Despite these hurdles, Esguerra believes the sector holds untapped potential that could be unlocked with better infrastructure, more resilient agricultural practices, and increased investment in modern farming technologies. She stressed that agricultural development remains a priority for the region, as it supports rural communities and ensures food security across Central Luzon. Central Luzon’s economy has demonstrated resilience and adaptability in the face of challenges, from the COVID-19 pandemic to the evolving regulatory landscape surrounding POGOs. The region’s diversified economy, which balances services, industry, and agriculture, provides a solid foundation for future growth. Read related article: Inspections Urged Amid POGOs “Fronting as Resorts, Hotels”

Okada Manila and Hann Resorts are among the initial public offerings (IPOs) lined up for 2025, says Deloitte Singapore. Financial advisory firm Deloitte has expressed cautious optimism about the prospects for initial public offerings (IPOs) in the Philippines in 2025, predicting that the market could see a variety of IPOs, particularly from gaming, energy, and resource companies. In a virtual briefing held on November 19, 2024, Darren Ng, the Transactions Accounting Support Partner for Deloitte Singapore, noted that the outlook for the Philippine stock market in 2025 is one of “cautious optimism.” He emphasized that, while there is uncertainty, the pipeline for IPOs appears promising with diverse companies preparing to go public. “I think from that perspective, if you look at what’s in the pipeline for the Philippines as well, there should be more IPOs happening in 2025 and in a mix of different industries," Ng was quoted as saying in a Business World report.  Among the gaming companies expected to pursue IPOs are Okada Manila and Hann Resorts, both of which have been discussed in market circles for their potential listings. The gaming sector continues to draw attention due to its growing influence in the region, as well as the continuing expansion of integrated resorts and gaming facilities in the Philippines. “There are two gaming companies, Okada Manila and Hann Resorts, and with a continued interest in energy and resources, we do think that there should be more IPOs coming for the Philippines,” Ng pointed out.  In addition to gaming companies, the energy and resources sectors are also expected to contribute to the IPO landscape in 2025. This outlook aligns with recent industry trends where energy and renewable energy companies have been active in the stock market.  The Philippine Stock Exchange (PSE) has also previously indicated that it expects to see six IPOs in 2025, a target that reflects growing investor confidence despite challenges in the broader market. Several high-profile companies are reportedly planning IPOs, though the exact timing remains uncertain. Companies such as SM Prime Holdings, Inc.’s real estate investment trust (REIT), Razon-led Prime Infrastructure Capital, Inc., Maynilad Water Services, Inc., and the digital wallet platform GCash have been named as potential candidates. However, as of now, there is no official timeline for these listings. The PSE had initially set a target of six IPOs for 2024, but only three IPOs have been completed this year. These include mining company OceanaGold Philippines, Inc., as well as renewable energy firms Citicore Renewable Energy Corp. and NexGen Energy Corp. Combined, these three companies raised $203 million and achieved a market capitalization of $972 million in the first three quarters of 2024. Despite this, not all planned IPOs came to fruition. Cebu-based fuel retailer Top Line Business Development Corp. had initially scheduled an IPO this year, but the company decided to postpone its public offering. On Monday, Topline announced that it would delay its IPO until the first quarter of 2025 in order to accommodate institutional investors. The postponement of IPOs in 2024 has been attributed to less favorable market conditions. The Philippine Stock Exchange index (PSEi) has experienced a decline, dropping from a near five-year high of 7,554.68 on October 7, to 6,803.19 by Tuesday. While the index rose 0.61% from Monday’s close, local analysts point to the overall slump in market sentiment as a contributing factor to the delay in IPO activities. Luna Securities, Inc. President and Co-Founder Francis Patrick Diaz noted that the “wait-and-see” attitude among investors continues to dominate, particularly with the uncertainty surrounding global financial markets. He pointed out that the direction of the U.S. economy and its policy decisions, especially regarding interest rates, will play a crucial role in shaping market conditions in 2025. "Given our recent slide, we are more wait-and-see. Aside from waiting on specifics on United States policy such as interest rates, next year is also an election year,” said Diaz. He further explained that uncertain economic conditions may lead some companies to delay their IPO plans if market conditions are not as favorable as they hope. Rizal Commercial Banking Corp.’s Chief Economist, Michael Ricafort, echoed similar sentiments, highlighting the impact of rising market volatility. He cited the global uncertainty following Donald Trump's victory in the U.S. presidential elections and its potential to affect investor sentiment. Ricafort noted that the prospect of higher inflation and potential interest rate adjustments in the U.S. could reduce the attractiveness of stock market investments, including those in the Philippines. “Rising volatility in global and local markets since Mr. Trump’s victory could lead to a wait-and-see attitude. Issuers might prefer to wait for better market conditions, particularly if they hope to sell shares at the highest possible valuations,” Ricafort said. He also mentioned that U.S. economic policies, such as tax cuts, could further influence inflation in the U.S. and subsequently impact global financial markets. While the immediate outlook for IPOs in the Philippines appears subdued, Deloitte’s optimism is grounded in the country’s strong consumer base and the strategic importance of sectors like real estate, healthcare, and renewable energy. Southeast Asia remains an attractive region for investors due to its growing middle class, lower operating costs, and geopolitical neutrality, which many large tech companies find appealing for investment. Deloitte’s report placed the Philippines fourth among Southeast Asian nations in terms of IPO amounts raised this year, trailing behind Malaysia, Thailand, and Indonesia. However, the Philippines still outpaced Vietnam and Singapore in this area, further indicating the country’s potential in the IPO market moving forward. Read related article: Okada Manila Reports 33.4% Revenue Drop to $142M in 3Q 202 4

The House of Representatives Committee on Games and Amusement approved House Bill No. 10987 or the Anti-Offshore Gaming Operations Act. The House Committee on Games and Amusement has taken a step towards ending the operation of Philippine Offshore Gaming Operators (POGOs) in the country by approving a bill aimed at banning these establishments. The approval of House Bill No 10987 on November 19, 2024, marks a major move in the ongoing efforts to curb illegal activities linked to POGOs, including drug trafficking and extrajudicial killings. House Bill No. 10987 or the Anti-Offshore Gaming Operations Act is a consolidation of several proposed measures including HB Nos. 10725, 10636, and 10525. It seeks to permanently halt all POGO-related activities across the Philippines. Lawmakers from various parties, including the Makabayan bloc, have been at the forefront of this initiative, driven by concerns over the negative impact of POGOs on society and national security.  One of the primary concerns driving the push for a POGO ban is the potential for these operations to evolve into other illegal businesses or “mutations” that could further harm the country’s social fabric. The measure’s sponsors argue that the government must act decisively to prevent the return of similar illegal establishments in the future. The bill aims to close any loopholes that would allow POGO-like operations to continue under a different guise. Deputy Minority Leader France Castro, who sponsored HB 10525 for the ACT Teachers party-list, emphasized that POGOs had been a blight on the Rodrigo Duterte administration, serving as a key part of its controversial drug war and associated human rights abuses. Castro pointed out that the proliferation of POGOs during the previous administration contributed to the nation's ongoing problems with crime and violence, including extrajudicial killings. She called for the complete repeal of Republic Act No. 11590, also known as the POGO Act, and other related regulations. According to Castro, these laws had inadvertently provided legal cover for illegal activities tied to POGO operations. “Along with extrajudicial killings in the fake war on drugs and against critics, POGO is a reeking legacy of the Duterte administration—a legacy that we should completely end, learn from and demand accountability for,” Castro was quoted as saying in an Inquirer report. She further argued that the government should take responsibility for the consequences of the rapid growth of POGOs, which became a major issue under Duterte's administration. In addition to its criminal associations, POGOs have been linked to various issues including human trafficking and labor exploitation. The Philippine Amusement and Gaming Corporation (PAGCOR) and other government agencies have struggled to regulate the industry, which involved thousands of foreign workers and contributed to rising levels of crime and corruption in certain areas. During the House hearing, Pio Rodulfo III, legal division officer of the Bureau of Immigration, reported that following President Ferdinand Marcos Jr.’s July announcement of the POGO ban , a total of 21,757 foreign workers employed by POGOs have had their work visas downgraded to tourist visas. Of these, 10,821 workers have already left the country. The BI had urged the foreign workers to voluntarily apply for the downgrade to tourist visas, which would allow them to remain legally in the country until the December 31, 2024 deadline for the cessation of all POGO operations. However, those who do not comply with the government’s directives will face deportation and a possible blacklist, which would prevent them from returning to the Philippines in the future. This significant move is part of the broader effort to dismantle the POGO industry and eliminate the illegal activities associated with it. The Department of Labor and Employment (DOLE) has been proactive in addressing the impact of the POGO ban on Filipino workers. Over 27,790 Filipino workers are expected to be directly affected by the closure of POGOs, with an additional 2,777 workers facing indirect job losses due to the shutdown. During the House committee meeting, DOLE officials assured lawmakers that various programs were in place to help affected workers transition to new employment opportunities. READ: Over 30,000 Filipino Workers To Be Affected by POGO Ban To date, more than 36,000 employment permits for foreign workers associated with licensed POGOs have been revoked. The Bureau of Local Employment has been working to help displaced workers find new jobs through employment facilitation programs. DOLE representatives expressed their commitment to helping these workers transition smoothly and avoid long-term unemployment. As of November 18, 2024, a total of 27 out of 43 Internet Gaming Licensees (IGLs) were still in operation or in the process of winding down their activities. This indicates that there is still significant work to be done before the POGO industry is completely dismantled. However, with the passage of HB No. 10987, the Philippine government has set a firm deadline for the cessation of all POGO-related operations by the end of 2024. Read related article:   Philippine Senate Committee Endorses Bill Outlawing POGOs

Macau GDP grew 4.7% year-on-year in real terms in the third quarter of 2024, with exports of gaming services up 11.2% from a year earlier. The economy of Macau showed resilience in the third quarter of 2024, with the city’s gross domestic product (GDP) increasing by 4.7% year-on-year in real terms, according to the latest data from the Statistics and Census Service. The growth is a positive sign for the region’s recovery, with the overall economic output reaching 87.3% of the size it was in the same quarter of 2019. This performance highlights continued progress, even as Macau navigates challenges posed by global economic uncertainties. In a report released on November 18, 2024, the statistics bureau detailed the performance of Macau’s service exports, a key component of the city’s economic activity. Exports of services rose by 1.3% year-on-year, with gaming services leading the charge. Gaming exports grew by a solid 11.2 percent compared to the same period in 2023, a promising sign of the sector’s recovery after the pandemic’s impact on tourism and casino revenues. However, other areas of tourism services experienced a decline. Exports of non-gaming tourism services fell by 14.5% year-on-year, reflecting the ongoing challenges faced by sectors like hospitality and retail, which have been slower to recover. Despite this, the growth in gaming services remains a cornerstone of Macau’s economic recovery, underscoring the city’s position as a global gaming hub. In terms of overall performance, Macau’s GDP for the first three quarters of 2024 grew by 11.5 percent year-on-year in real terms, amounting to MOP 301 billion (US$37.54 billion). This marks a significant rebound, with the GDP surpassing the MOP 300 billion mark for the first time since the same period in 2019. Despite this progress, the GDP was still 13.7 percent below the pre-pandemic levels of 2019. The strong growth in exports of services is attributed in part to a surge in visitor arrivals during the peak summer season. The city saw a notable increase in tourist activity, which directly boosted both gaming and other tourism-related sectors. Exports of services in the first nine months of the year rose by 11.4% year-on-year in real terms, with gaming services experiencing a particularly robust 28.4% increase. However, exports of other tourism services for the first three quarters showed a mixed performance. While they fell by 6.1% compared to the same period in 2023, they increased by nearly 15% compared to the same period in 2019. This suggests that while recovery is ongoing, certain sectors of the tourism industry have not yet fully returned to pre-pandemic levels. Private consumption expenditure also showed solid growth, increasing by 5.8% year-on-year in the first nine months of 2024. This was driven by a rise in household income, as the local job market continued to improve and more residents saw wage growth. The positive local economic situation, combined with a steady rise in employment, contributed to an increase in consumer spending, which is a key factor in sustaining economic momentum. Private investment in Macau has also seen significant growth. Private equipment investment grew by 31.5% year-on-year, while construction investment expanded by 11.6% during the same period. This indicates a strong recovery in the construction and infrastructure sectors, as well as increased confidence from businesses investing in long-term capital projects. Despite these positive indicators, Macau’s growth outlook for 2024 was recently revised downward by the International Monetary Fund (IMF). In its latest update, the IMF lowered its forecast for Macau’s GDP growth this year from 13.9% to 10.6%, citing a slower-than-expected recovery in tourism and gaming sectors outside of the core gaming services. The IMF’s revision highlights the risks facing Macau’s recovery, particularly in the face of global economic challenges and uncertainties. While the gaming sector has shown strength, other parts of the tourism industry are still struggling to return to pre-pandemic levels. Additionally, the global economic slowdown and fluctuating international travel patterns could pose challenges to Macau’s sustained growth in the near term. Nonetheless, the overall picture for Macau remains positive, with key indicators like private consumption, private investment, and gaming exports showing solid growth. As the city continues to recover from the impact of COVID-19, the role of tourism and gaming exports will remain central to its economic success. Looking ahead, Macau will likely continue to focus on boosting its tourism sector, while also diversifying its economy to reduce reliance on gaming revenues.  Read related article:   Macau Forecasts $29.7 Billion in Gaming Revenue for 2025

PAGCOR distributed over 21,000 relief packs to residents affected by Typhoon Ofel in Apayao, Cagayan, Isabela, and Pagudpud, Ilocos Norte. The Philippine Amusement and Gaming Corporation (PAGCOR) launched a major relief operation to assist residents of Northern Luzon who have been severely impacted by Typhoon Ofel.  The initial distribution, which began on Friday, November 15, 2024, targeted some of the hardest-hit provinces, such as Apayao, Cagayan, Isabela, and Ilocos Norte. PAGCOR prepared and distributed over 21,000 relief packs to address the immediate needs of those suffering from the storm’s aftermath.  The province of Apayao received 1,000 relief packs, while Cagayan, one of the worst-hit areas, was allocated 2,000 packs. Isabela, which also bore the brunt of Typhoon Ofel’s fury, received 5,000 packs. The coastal town of Pagudpud in Ilocos Norte was another key recipient, with 2,000 relief packages distributed there. The relief packs included both food and non-food supplies, aimed at providing essential aid to the affected communities.  Typhoon Ofel, which was the 15th tropical cyclone to hit the country this year, left a trail of devastation in its wake, particularly in the northern provinces of the Philippines. PAGCOR's relief initiative is a response to the urgent needs of displaced families in the affected areas. However, PAGCOR’s efforts did not stop with the initial distribution. A total of 11,000 additional food and non-food packs are scheduled for delivery to the most affected municipalities in Cagayan. These areas include Aparri, Baggao, Ballesteros, Buguey, Calayan, Sanchez Mira, and Santa Teresita—towns that suffered significant damage and where many residents have been left without basic necessities. PAGCOR’s relief operation is being coordinated in close partnership with the Office of Civil Defense (OCD) to ensure that aid reaches the most remote and vulnerable communities. Alejandro H. Tengco, the Chairman and CEO of PAGCOR, emphasized the importance of this collaboration to ensure that the aid distribution is swift and effective. "We have been in constant coordination with the Office of Civil Defense to facilitate the distribution of these relief aids to severely affected communities," said Tengco. "We understand the need of these local communities to receive all the help they can get and enable them to rise above their dire situation." Tengco also noted that even at the height of Typhoon Ofel, PAGCOR had been actively working with local government units (LGUs) to ensure that assistance reached the people who needed it most. "We have been actively working with affected LGUs to determine the number of displaced families that needed help and to ensure that no community is left behind,” he added.  The disaster relief efforts have focused on delivering food, water, hygiene kits, and other essential supplies to those displaced by the storm. Many of the affected areas are still reeling from the destruction of homes, farmland, and infrastructure. In Cagayan alone, reports indicate that Typhoon Ofel caused an estimated P1.4 billion in damage to the province’s agricultural sector, with crops, livestock, and fisheries hit hardest. Super Typhoon Ofel, which made landfall earlier in November, brought intense rainfall and winds, triggering floods and landslides in several regions of Northern Luzon. Hundreds of families were forced to evacuate their homes as rivers overflowed and roads became impassable. The storm left behind extensive damage to infrastructure, disrupting electricity and communication lines in many areas. PAGCOR’s response to this crisis is part of its broader corporate social responsibility (CSR) initiative. As of now, PAGCOR’s efforts are focused on immediate relief, but the agency also plans to support the affected communities in their long-term recovery. The government is working alongside PAGCOR and other agencies to provide additional resources for rebuilding efforts, including financial aid for families who have lost their homes and livelihoods. Read related article: PH Gaming GGR Grows 37.52% to P94.61 Billion in 2024 Q3

DigiPlus clarified it has no definitive plans at this time to acquire competitor Casino Plus, addressing speculation and reaffirming its current strategic direction. DigiPlus, a leading digital gaming company, has officially responded to speculations about a potential acquisition of its competitor, Casino Plus. In a statement, DigiPlus clarified that while acquisitions are part of its strategic growth plan, there are currently no definitive plans to acquire Casino Plus. The company emphasized that its primary focus remains on enhancing its existing offerings and expanding its market reach. “Acquisitions have always been part of the company’s strategic expansion plan. However, there are no definitive plans at this time,” DigiPlus said, as reported by Asia Gaming Brief.  READ: Maine Mendoza Reminisces Bulacan Childhood via Online Game This comes in response to a report published by Bilyonaryo, which suggested that DigiPlus was in advanced stages of negotiations to acquire CasinoPlus. Bilyonaryo’s report had ignited industry buzz, with insiders closely monitoring the potential deal and its potential impact on the market. READ: PH Gaming Firm DigiPlus Gets Approval to Operate in Brazil DigiPlus’s current portfolio includes a diverse range of gaming products, catering to various demographics. BingoPlus, its flagship product, has gained immense popularity among bingo enthusiasts. ArenaPlus, on the other hand, attracts sports betting and esports fans. GameZone, a dynamic platform, offers a wide array of gaming options, ensuring a comprehensive gaming experience. Casino Plus, a prominent player in the Philippine gaming industry, offers the popular Color Game and provides remote access to physical slot machines. This innovative approach has contributed to its success and solidified its position in the market. As the Philippine gaming industry continues to evolve, industry observers will be closely watching the developments of both DigiPlus and Casino Plus. While the potential acquisition may not materialize at this time, both companies are expected to remain key players in the market, driving innovation and shaping the future of online gaming in the Philippines. Read related article: DigiPlus eyes acquiring CasinoPlus: Report

DigiPlus is reportedly setting its sights on acquiring CasinoPlus in a move that could significantly reshape the Philippine online gaming landscape.  DigiPlus is reportedly setting its sights on acquiring CasinoPlus in a move that could significantly reshape the Philippine online gaming landscape.  According to an exclusive report  by Bilyonaryo, DigiPlus, a leading force in the industry, is in advanced discussions to acquire CasinoPlus, a key competitor. This potential deal is expected to have a far-reaching impact on the country’s gaming market, cementing DigiPlus’s dominance while setting new revenue benchmarks. DigiPlus has already established itself as a pioneer in the gaming sector, thanks to its innovative platforms. Its flagship offerings include BingoPlus, which has become a favorite among bingo enthusiasts; ArenaPlus, which attracts sports betting and esports fans; and GameZone, a dynamic platform featuring an extensive variety of gaming options.  READ: PH Gaming Firm DigiPlus Gets Approval to Operate in Brazil CasinoPlus, on the other hand, has made a name for itself by blending tradition and technology. It offers classic games like the Color Game while integrating remote access to physical slot machines, creating a seamless hybrid gaming experience. If the acquisition goes through, the combined monthly revenue of DigiPlus and CasinoPlus could soar to an estimated P10 billion, eclipsing even the peak earnings of E-Sabong. This would not only set a new industry standard but also redefine the competitive dynamics of the Philippine gaming market. Industry insiders are closely monitoring the deal, speculating on its implications for market consolidation, innovation, and regulation. For DigiPlus, this acquisition represents an opportunity to solidify its status as a market leader while driving growth in the ever-evolving online gaming sector. Read related article:   Maine Mendoza Reminisces Bulacan Childhood via Online Game