Pagcor revenue dragged down by Resorts World attack

“We will probably make P150 billion,” she explained, paring down her March forecast that the government would be raking in P160-billion GGR by the end of 2017. This would represent a 6-percent decrease in Pagcor’s revenues if the numbers unfold according to her expectations.

However, the Pagcor chief pointed out that the agency was implementing measures to mitigate the revenue decline caused by the suspension of Resorts World’s operations following the June 2 arson attack by a former client that resulted in 38 fatalities including the assailant himself.

Domingo pointed out the closure of other Pagcor-owned properties this year along with the continued non-operation of other key casino outlets may also impact the agency’s bottom line.

“But we will try to achieve the original target in spite of [Resorts World], the closure of Casa Blanca, Tagum and Iligan, while Fontana and Fort Ilocandia remain closed,” she said.

At the forecasted P150-billion GGR level, Pagcor would be recording a flat growth from the 2016 level of P149 billion.

The rollout of casino operations at the delayed Okada Manila integrated resort is also expected to positively impact the sector’s GGR this year.