PAGCOR reports record-high gaming revenues of PHP410.5B in '24, projects PHP480B for '25

The Philippine Amusement and Gaming Corporation (PAGCOR) reported record-high gross gaming revenues (GGR) of PHP410.5 billion for 2024, with expectations to generate up to PHP480 billion in GGR this year.

This amount is Asia's second highest after Macau, representing a significant increase from the PHP328.8 billion recorded in 2023 and marking a year characterized by strong growth in the electronic games sector.

Integrated resorts contributed 49 percent, e-games 38 percent, offshore gaming operations 9 percent, and PAGCOR casinos 4 percent to last year’s GGR, with traditional casino revenues declining but offset by a surge in e-games which grew by 309.2%.

PAGCOR expects revenues to grow further this year, projecting PHP450 billion to PHP480 billion despite the absence of offshore gaming operations and focusing on new integrated resorts and casinos.

Tengco highlighted that e-games will likely drive future growth due to reduced fees and increased registration of previously unregistered operators, with e-game revenue estimated at PHP125 billion in 2025.

In January alone, GGR reached close to PHP40 billion, with integrated resorts and e-games projected to account for 50 percent and 45 percent respectively this year.