Philippine gaming industry grows 25% to PHP410 billion
Philippines gaming regulator PAGCOR has revealed that gross gaming revenue reached PHP410 billion (US$7.16 billion)1 PHP = 0.0175 USD
2025-03-19Powered by CMG CurrenShift for 2024, a year-on-year rise of 25%.
PAGCOR Chief Executive and Chairman of Alejandro H. Tengco, disclosed that while land-based casinos contributed nearly half of the 2024 revenue, PHP201 billion (US$3.51 billion)1 PHP = 0.0175 USD
2025-03-19Powered by CMG CurrenShift, the online gaming sector saw significant growth, increasing 165% compared to 2024, producing PHP154.5 billion (US$2.70 billion)1 PHP = 0.0175 USD
2025-03-19Powered by CMG CurrenShift.
Tengco associated the growth with the reduced license fees collected by PAGCOR, citing that it encouraged more online gaming operators to register for licenses in the Philippine-regulated market.
While delivering his keynote address at the ASEAN Gaming Summit, Tengco said, “We partly attribute the strong performance of the local gaming industry to the strategic policy adjustments that we have implemented, such as the gradual reduction of fee rates for e-games since 2023. At that time, PAGCOR was collecting between 50 to 55% license fees, thus deterring expansion, but effective January 1, 2025, our fee rates for e-games stand at only 30% of GGR”.
PAGCOR revealed that it had also hit its online gaming target of PHP100 billion (US$1.75 billion)1 PHP = 0.0175 USD
2025-03-19Powered by CMG CurrenShift as early as September, contributing to the group’s heightened optimism about the industry.
“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,” Tengco added.
Rounding up his address at the Gaming Summit, Tengco revealed that PAGCOR would promote more responsible gaming initiatives, as well as work towards a more sustainable and ethical gaming industry.
Charlotte Capewell brings her passion for storytelling and expertise in writing, researching, and the gambling industry to every article she writes. Her specialties include the US gambling industry, regulator legislation, igaming, and more.
