Philippines' PAGCOR Incorporates Virtual Reality Casino into Online Gaming Projects
Amidst cries for a ban on online gaming in the Philippines, the country's gaming authority sees a plethora of opportunities. It has already expressed its desire to make a foray into the online casino scene, and a recent announcement about the creation of a virtual reality (VR) casino is further cementing its stance.
The Philippines’ gaming authority, the Philippine Amusement and Gaming Corporation (PAGCOR), has shed some light on its plans for the next year. A new online casino, slated to launch in early 2024, is an audacious undertaking spearheaded by Alejandro Tengco, PAGCOR’s president and CEO.
This groundbreaking platform, called casinofilipino.com, aims to redefine the online casino experience with state-of-the-art VR technology. By integrating immersive tech, players will be whisked away to a virtual casino that mimics the ambiance of a traditional land-based casino.
Tengco believes the online casino can connect with players worldwide, creating opportunities for PAGCOR to delve into new markets. However, some lawmakers are pushing for PAGCOR’s operations to be separated. They are gathering support to compel the agency to focus solely on regulations, without running any casinos. The outcome of these efforts is uncertain.
Additionally, PAGCOR is striving to upgrade its slot machine operations. It has already initiated discussions with various manufacturers to modernize the segment.
Tengco is excited about the prospect of players embarking on a unique gaming journey with the refurbishment. The aim is to displace the obsolete machines with 3,500 advanced gaming devices, as stipulated in the deal between PAGCOR and the manufacturer.
Moreover, PAGCOR has pledged to refurbish its casino management system. To achieve this, it is in the process of producing in-house computer software that will be integrated into its existing infrastructure.
In the first half of 2023, PAGCOR published its earnings report, disclosing PHP36.21 billion (US$663 million). This was based on gross gaming revenue of PHP136.37 billion ($2.5 billion).
Tengco remains hopeful that PAGCOR can eclipse its pre-COVID-19 profit level by year’s end. Thanks to expected growth in the second half, he predicts a revenue of PHP37 billion (US$676 million), subsequently contributing to an annual income of PHP71 billion (US$1.29 billion).
The Controversial Logo
PAGCOR recently refreshed its logo, but the response hasn't been entirely favorable. Backlash ensued after news outlets disseminated that the agency spent PHP3 million (US$54,810) for the new branding.
Tengco defended the reports, stressing that the cost wasn't only for the logo. There were "other deliverables" as well. Among these were handbooks, stationery, brochures, and more.
The updated brand design, created by Printplus Graphic Services, purports to be a flame with hues of red and blue. This is said to symbolize "energy, inspiration, passion, and transformation." It also "represents a guiding light that helps people find their way."
The new logo will start displaying at all the properties PAGCOR oversees in the Philippines, which will incur additional expenses. As the agency tries to restore its image, it's hoping that a new brand image will lay the groundwork for a better future.
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Source: www.casino.org
