Key points:
- The Philippine gaming industry saw a 25% increase in GGR in 2024, reaching Php410bn despite the POGO ban
- E-Games and E-Bingo grew by 165% year-on-year, aided by a reduction in licence fees from 50-55% to 30%
The Philippine gaming industry experienced significant growth in 2024, with Gross Gaming Revenue (GGR) reaching Php410bn – a 25% increase from the previous year – despite the ban on Philippine Offshore Gaming Operators (POGOs).
The announcement was made by Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco during the ASEAN Gaming Summit in Manila.
Tengco emphasised that as offshore gaming exits the market, PAGCOR is prioritising a technology-driven future, with a strong focus on regulating electronic gaming while maintaining strict oversight to combat illegal operators.
Brick-and-mortar casinos contributed Php201bn ($3.5bn), nearly half of the total GGR.
The most notable growth was seen in the E-Games and E-Bingo sector, however, which generated Php154.51bn – a 165% year-on-year increase.
PAGCOR attributed this growth to strategic policy changes, including the gradual reduction of licence fees for E-Games. Previously set between 50% and 55%, these fees were lowered to 30% of GGR as of 1 January 2025, encouraging unregistered operators to enter the regulated market and sustaining profitability among licensed operators.
The fee reduction also contributed to the E-Games sector reaching its 2024 revenue target of Php100bn by September.
Looking ahead, Tengco expressed optimism about the industry’s continued expansion, stating: "We wish to assure our industry stakeholders that even as we strive for greater success, responsible gaming and market integrity will continue to be at the heart of our efforts.
“The best days of Philippine gaming are still ahead of us, and we look forward to working with all of you to shape what comes next."
