Online casino operator Oriental Game is betting big that state regulator Philippine Amusement and Gaming Corporation (PAGCOR) will succeed in its plan to double its revenue from internationally licensed gambling operators in 2018.
Brian Ang, president of the Philippine-based Oriental Game, was quoted by Manila Bulletin saying he expects PAGCOR to achieve its revenue target for licensed online gaming operators this year on the back of increasing popularity of electronic gambling.
“I’m really confident that this industry is going to take off. For me this is a very good situation, we really want to get support from PAGCOR,” Ang told local reporters in a recent interview.
As a vote of confidence to the Philippine gambling market, Ang said that Oriental Game plans to expand its operations in the country. The executive said they plan to increase the number of gaming tables from the current 22 to 31. The company will also be in for a hiring spree as they plan to rollout new offerings in the future.
“We’re going to expand our office as we try to make new games, and technology. So we need to hire more people locally or even bring back good people working in Dubai, Qatar, China, Korea,” Ang said.
PAGCOR chair Andrea Domingo announced last week that the state regulator is hoping to collect PHP6 billion (US$115.4 million) from the Philippine offshore gaming operator (POGO) licensing scheme in 2018, when all of its licensees become operational.
PAGCOR has issued POGO licenses to at least 45 online casino operators and 10 sports betting operators since it was introduced in 2016. Domingo said they will temporarily halt the issuance of online gambling licenses until it sees enough demand.
“The reason we’re projecting P6 billion is because we have this now the audit provider. They’re now installing the application, which integrates the systems of online casinos and PAGCOR. We can now see real time bets,” Domingo said.