Philippine H1 gaming revenue up 26% year-on-year
E-games accounted for the majority of the GGR generated in the nation.
Key points:
– PAGCOR has released its GGR figures for gaming in the Philippines
– Electronic games made PHP 114.83bn, accounting for 53.5% of the total GGR
PAGCOR has released its latest revenue figures for gaming in the Philippines.
For H1, gross gaming revenue (GGR) in the nation came to PHP 214.75bn ($3.74bn), up 26% year-on-year.
Electronic games, including e-games, e-bingo and bingo grantees generated PHP 114.83bn, accounting for 53.5% of the total GGR. This was followed by licensed casinos, which made PHP 93.36bn, accounting for 43.5% of the total, with PAGCOR-operated casinos accounting for the remaining 3.1%, making PHP 6.56bn.
PAGCOR specifically reported revenue of PHP 59bn for the first half of the year, up 14% year-on-year. Of this, Php 31.8bn was put towards the development of the Philippines, with Php 30m remitted to the Dangerous Drugs Board while around Php12.7bn was given to the PhilHealth share. Socio-civic projects received PHP 7.9bn, while the Philippine Sports Commission received its share of PHP 1.3bn.
PAGCOR Chairman Alejandro H. Tengco said: “PAGCOR recognises the earning potential of the e-games sector, but as the country’s gaming regulator, our foremost responsibility is to ensure that growth comes with accountability.
“Our role goes beyond revenue generation; and as partners of the Government in nation-building, we are committed to always strike a balance between enabling industry expansion and ensuring it aligns with responsible gaming standards.”
Good to know: Earlier this week, PAGCOR provided PHP 30m in relief following monsoon floods in Manila
Alongside these figures, PAGCOR also noted that the agency has also signed a memorandum of understanding with the Ad Standards Council (ASC) to bolster gambling ad monitoring in the country, with takedowns ordered placed against primetime ads and ads in public spaces.
On this, Tengco said: “These efforts are part of our broader mission to ensure that online gambling is not only well-regulated but also aligned with public interest.”
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