An executive of the Philippine Amusement and Gaming Corp. (PAGCOR), the state agency in charge of licensing casinos and other games of chance, highlighted the role of integrated resorts and casinos in driving local tourism and fostering economic growth across various sectors.
Ma. Vina Claudette Oca, PAGCOR assistant vice president for gaming licensing and development department, stressed at the 1st Philippine Tourism and Hotel Investment Summit the significant contributions of integrated resorts beyond gaming during a panel discussion titled “Navigating Challenges and Opportunities for Casino Hotels in the Philippines.”
She said the integrated resorts are mandated by PAGCOR to prioritize non-gaming attractions and facilities, including dining and shopping venues.
“In fact, they are only allowed to allocate 7.5 percent of their facilities’ total floor area to gaming,” said Oca. “The rest of the floor area is allocated for non-gaming facilities such as hotel rooms, retail areas, dining and other attractions,” she added.
Highlighting the economic impact, Oca said the integrated casinos employ more than 20,000 Filipinos, thereby creating substantial livelihood opportunities for locals.
She also highlighted PAGCOR’s contribution to the government, with nearly 80 percent of its revenue from regulated gaming activities remitted to the Bureau of the Treasury to help fund socio-civic projects.
PAGCOR licensed casinos generated gaming revenue totaling P49.69 billion in the first quarter this year, with P39.12 billion contributed by Entertainment City while those operating in Clark added P7.83 billion. Gross gaming revenue from licensed casinos accounted for nearly 1 percent of the gross domestic product in the first quarter, based on current prices.
The summit also featured Tourism Secretary Christina Garcia Frasco as keynote speaker, who underscored the collaborative efforts between PAGCOR, the Tourism Infrastructure and Enterprise Zone Authority, and the Tourism Promotions Board to promote tourism and hospitality investments in the Philippines.
The event marked a significant platform for discussing strategies to further enhance the tourism and hospitality sectors amid evolving challenges and opportunities in the Philippines.
