The Philippines’ gaming industry has recorded 25% growth over the last year, despite the ban on Philippine Offshore Gaming Operators (POGOs).
The sector returned Gross Gaming Revenue (GGR) of PHP 410 billion ($7.15b).
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco delivered the update during his address at the ASEAN Gaming Summit in Manila.
He provided a robust outlook on the upcoming prospects for the industry, offset by the loss of offshore gaming, with technology to play a big part in propelling future gains. Tengco also intimated there would be a key focus on regulatory responsibilities, as well as a firm oversight to prevent the emergence of illicit gambling operations.
The leader told delegates at the gathering, “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.”
Tengco continued, “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.”
In 2024, Philippine President Ferdinand Marcos Jr ordered an end to the proliferation of underground online casinos, with the network linked to various criminal enterprises.
The POGOs largely catered to the demand in mainland China, where gambling is illegal, with the approval of then-President Rodrigo Duterte.
Last week, the former leader was sent to The Hague in the Netherlands to face International Criminal Court (ICC) charges for alleged crimes against humanity.
The gambling industry’s future took center stage at the ASEAN Gaming Summit in Manila this week, with a panel titled “Where Do We Go from Here: The Operators’ Take.” https://t.co/RIsXdQ4DnL
— Asia Gaming Brief (@agbrief) March 19, 2025
Strong gains in e-games and e-bingo portfolios
Policy adjustments contributed to the gaming industry securing its 2024 GGR target of PHP 100b ($1.74b) as early as September last year.
The change included gradual reductions in license fees for e-games, previously set at 50% to 55%, which were reduced to 30% as of January 1, 2025. This resulted in making the market a more attractive proposition for unregistered operators.
PAGCOR detailed that land-based casinos delivered PHP 201b ($3.5b), almost half of the total figure, with the greatest increase noted in the e-games and e-bingo portfolios securing a 165% year-on-year spike.
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