The Dowinn Heritage junket casino opened in Pasay City on February 3, 2024, according to the Philippine Amusement and Gaming Corporation's official newsletter1. Employees of the new gaming venue received anti-money laundering training from PAGCOR's Anti-Money Laundering Compliance Department just three days before it opened1.
The opening came as PAGCOR reported record national gaming revenues. The country's gross gaming revenues reached a record Php285.27 billion in 2023, beating the previous mark of Php256.49 billion set in 2019 by 11.22%1. The industry had posted an all-time low of Php98.79 billion in 2020 at the height of the pandemic, climbed slightly to Php113.09 billion the following year, then nearly doubled to Php214.33 billion in 20221. PAGCOR projected Philippine GGR of Php336.38 billion for 20241.
PAGCOR Chairman and CEO Alejandro H. Tengco said the 2023 result exceeded even the regulator's most optimistic projections.
PAGCOR itself booked Php79.37 billion in revenues in 2023, up 34.63% from Php58.96 billion the previous year, with gaming operations contributing Php73.11 billion1. Net income was Php6.81 billion, a 53.27% increase from Php4.44 billion in 20221. Licensed casinos in the country's integrated resorts contributed Php33.18 billion, or 45.38% of income from gaming operations, followed by the E-Games sector at Php21.66 billion (29.62%), PAGCOR-run casinos at Php15.12 billion (20.68%) and offshore gaming operations at Php3.15 billion (4.31%)1.
| PAGCOR revenue source, 2023 | Amount | Share of gaming income |
|---|---|---|
| Licensed casinos in integrated resorts | Php33.18 billion | 45.38% |
| E-Games (e-bingos, e-games, specialty games, sports betting) | Php21.66 billion | 29.62% |
| PAGCOR-run casinos | Php15.12 billion | 20.68% |
| Offshore gaming operations | Php3.15 billion | 4.31% |
The newsletter also reported that PAGCOR will reduce the gross gaming revenue remittance rate for online and on-site betting platforms starting April 1, 20241. It said PAGCOR welcomed on February 23 the decision of online gaming giant 188BET to move its operations from the Isle of Man back to the Philippines1. Separately, members of the Osaka City Council in Japan toured the integrated resort casinos at Entertainment City on January 221.
What it means for players
The Dowinn Heritage opening adds a junket-operated venue in Pasay City to the Metro Manila market, alongside the integrated resort casinos of Entertainment City covered in the Casinos and Integrated Resorts in Asia guide. Junket casinos typically serve high-rolling players brought in through agents rather than walk-in visitors, and the AML training given to staff before opening points to the compliance checks that apply to that business model. For anyone gambling in the Philippines, the practical picture is a market that PAGCOR describes as fully recovered, with more integrated resorts scheduled to open in 20241. The lower GGR remittance rate for online and on-site betting platforms from April 1, 2024 changes what operators pay the regulator, not what players are charged; the newsletter does not state how or whether operators will pass any of that through1. Entry rules, ID requirements and what each venue offers vary by property and are not detailed in the newsletter; the Philippines gambling guide covers the general rules.
What happens next
PAGCOR's reduced GGR remittance rate for online and on-site betting platforms takes effect April 1, 20241. The regulator has projected GGR of Php336.38 billion for 2024, which it links to the scheduled opening of new integrated resorts this year1. No opening date for any further junket venue has been reported.
Sources1 sources
- jan-mar-2024.pdf, pagcor.ph
