The Philippine gaming industry had a notable surge in gross gaming revenue (GGR) in the most recent fiscal quarter, rising 37.52% to P94.61 billion. According to the Philippine Amusement and Gaming Corp. (PAGCOR), the main reason for this increase is the significant expansion of the electronic gaming market, which produced P35.71 billion in revenue alone—a sharp increase from P6.32 billion at the same time the previous year.
Overall expansion in the gaming industry:
The chair and CEO of PAGCOR, Alejandro H. Tengco, expressed optimism, predicting that the electronic gaming industry might generate up to P78 billion in license fees by the end of the year. This estimate is a component of a larger plan to reach the P100 billion revenue goal for 2024. According to BusinessWorld Online, licensed casinos contributed significantly to the third quarter’s GGR despite a minor decline, earning P50.72 billion, which was 2.27% less than the previous year’s record of P51.90 billion. However, a more notable 26.32% drop in revenue, totaling P3.64 billion, was observed in Casino Filipino sites. Additionally, bingo operations saw a decline in revenue, which fell 19.43% to P4.52 billion.