• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 18 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

PAGCOR Closing Second Manila Casino

Newsdesk by Newsdesk
Wed 26 Feb 2014 at 03:11
2
SHARES
56
VIEWS
Print Friendly, PDF & Email

The Philippines government continues to downsize its role as a casino operator with plans to close another Manila venue, the second in the last year.

With the future of the market shifting toward large-scale commercial resorts, Airport Casino Filipino, located near the capital’s Ninoy Aquino International Airport and one of the largest venues in the portfolio of the Philippine Amusement and Gaming Corp., will shut down in July amid mounting losses.

PAGCOR’s casino at Heritage Hotel Manila was closed last July.

“As much as possible we don’t want to close down any casino, but the decision depends on the viability of a casino,” Chief Executive Cristino Naguiat said.

Airport Casino Filipino generates an average of PHP180 million in gross revenues a month (US$4 million), half of which is remitted to the national treasury, leaving a balance that is not enough to cover expenses, Mr Naguiat said. The rent alone amounts to PHP23 million a month, he said—“plus salary for more or less 800 employees, we also pay for the food for our players and, of course, electricity and other fees”.

He said the outlook for gaming in the country is positive but that growth will be driven mostly by the private sector, which PAGCOR regulates and licenses. This includes Resorts World Manila—also located near the airport, a Genting partnership and the Philippines’ largest and most lucrative casino—and the four megaresorts under development at the PAGCOR-licensed Entertainment City complex on Manila Bay. The first of these, the US$750 million Solaire Resort & Casino, which is locally owned, opened last March. The second, City of Dreams Manila, part-owned by Macau’s Melco Crown Entertainment and priced at $1.2 billion, opens later this year.

The national market is estimated at around US$2 billion currently, but PAGCOR’s share of it has been declining. The agency fell PHP2.4 billion shy of its 2013 revenue goal of 42 billion (US$683 million) and acknowledges that it will be hard-pressed to make its target of PHP45.4 billion this year.

“We know that it will not be easy because competition is getting stiffer,” Mr Naguiat said recently. “But just like what I keep telling our employees, we always have to do our best so we can reap the fruits of our labor.”

He assured that the airport casino’s workers will not be jobless but will be transferred to other PAGCOR casinos at the Hyatt Hotel Manila and the Pavilion Hotel.

“Every month, we process about 50 applications for retirement or early retirement, so there are plenty of job opportunities for about 800 affected employees of Airport Casino Filipino.”

The closure will leave PAGCOR with 11 Casino Filipino-branded properties. Nationwide, the agency also operates around two dozen standalone machine gaming venues.

 

RelatedPosts

Interview with Newport World Resorts’ Nilo Thaddeus Rodriguez

Interview with Newport World Resorts’ Nilo Thaddeus Rodriguez

Wed 17 Sep 2025 at 19:04
Publication of record

Melco ordered to pay total US$13,700 to City of Dreams Manila workers let go during COVID

Wed 17 Sep 2025 at 17:03
PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

Mon 15 Sep 2025 at 22:25
Philippines’ maiden PIGO platform generates GGR of US$2.3 million in first six months of operation

DigiPlus said to be eying acquisition of land-based casino pending online gaming regs

Mon 15 Sep 2025 at 21:59
Load More
Tags: Casino Filipinocristino naguiatManilaPAGCORPhilippines
Share1Share
Newsdesk

Newsdesk

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lankan cabinet approves budget proposal to increase betting levy, double casino entry for locals

by Newsdesk
Thu 18 Sep 2025 at 02:27

The Sri Lankan cabinet has approved a proposal in the country’s 2025 budget that will see the betting levy increased and casino entry fee for locals doubled. According to a report by local business media outlet Economy Next, Cabinet Spokesman...

CDC Gaming announces reimagined Day Zero Party including “10 Women Rising in Gaming” presentation at Resorts World Las Vegas’ Allē Lounge on 66, on 5 October 2025, the Sunday prior to G2E

CDC Gaming announces reimagined Day Zero Party including “10 Women Rising in Gaming” presentation at Resorts World Las Vegas’ Allē Lounge on 66, on 5 October 2025, the Sunday prior to G2E

by Newsdesk
Thu 18 Sep 2025 at 02:08

CDC Gaming, the premier source of news, commentary and analysis for the gaming industry in the Americas and sister company to Inside Asian Gaming, has announced a revamped, reimagined and refreshed Day Zero Party ahead of this year’s Global Gaming...

Wynn says UAE development contribution to total around US$900 million as Thailand opportunity looms large

Cryptocurrency payments, smart table rollout across all games among technology innovations being planned at Wynn Al Marjan Island

by Ben Blaschke
Thu 18 Sep 2025 at 02:01

Wynn Al Marjan Island is looking to open with smart gaming tables installed across all or most of its gaming areas and payment options that include cryptocurrencies, the company has revealed. David Patent, Executive Vice President, Gaming Operations at Wynn’s...

Interview with Newport World Resorts’ Nilo Thaddeus Rodriguez

Interview with Newport World Resorts’ Nilo Thaddeus Rodriguez

by Newsdesk
Wed 17 Sep 2025 at 19:04

IAG sat down with Nilo Thaddeus Rodriguez – the President and CEO of Newport World Resorts – to discuss the property’s recent market share gains and what new features and attractions we can expect to see in the coming months.

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English