Philippine gambling shutdown costing regulator $118m a month

The Philippines’ gambling regulator says it’s continuing to provide cash for local pandemic relief efforts despite the fact that the suspension of gambling activity means its coffers are running dry.

On Tuesday, the Philippine Amusement and Gaming Corporation (PAGCOR) issued a statement regarding the P20.5b (US$403.3m) it has contributed to the local efforts to reduce further spread of the COVID-19 coronavirus. This includes P12b to the National Treasury and P8.5b to the Socio-Civic Projects Fund of the Office of the President.

PAGCOR chair Andrea Domingo noted that the regulator had fully complied with President Rodrigo Duterte’s declaration of a public health emergency by shutting all land-based casinos, eGames, bingo, poker, slot machine clubs and sports betting facilities on March 15. That was followed three days later by the suspension of all Philippine Offshore Gaming Operators (POGOs) and their service providers.

With nearly all gaming under lockdown, Domingo said PAGCOR was losing an average of P5b-6b per month in lost revenue. Domingo said “the entire Philippine gaming industry will suffer” the longer the shutdown persists “but the people’s safety is of paramount importance.”