PH Gaming Industry Sets Revenue Record in 2024, Eyes Bigger Growth in 2025
The Philippine gaming industry hit an all-time high in 2024, driven by the booming electronic gaming sector. The country’s gross gaming revenue (GGR) surged by 24.81%, reaching P410.5 billion from P328.88 billion in 2023, according to the Philippine Amusement and Gaming Corporation (PAGCOR). This growth highlights the industry’s shift toward online and digital gaming, offsetting declines in traditional casinos.
E-Games Surge as Casino Revenues Decline
PAGCOR-licensed casinos remained the biggest contributors, generating P201.8 billion. However, this marked a 2.72% drop from P207.48 billion in 2023. The decline was countered by the explosive rise of e-games, which skyrocketed by 309.2%, earning P135.71 billion compared to just P33.16 billion the previous year.
PAGCOR chairman Alejandro Tengco emphasized the global shift toward online gaming. “The industry is evolving worldwide, not just in the Philippines. In the next two to three years, e-games could rival traditional casinos in revenue,” he said.
Meanwhile, revenue from PAGCOR-operated casinos under the Casino Filipino brand fell by 18.59%, down to P15.97 billion from P19.62 billion in 2023. The now-defunct Philippine Offshore Gaming Operations (POGOs) also saw a 12.54% drop, contributing P38.14 billion compared to P43.61 billion in the previous year.
2025 Forecast: Another Record Year?
Despite changes in the market, PAGCOR expects continued growth in 2025. Tengco predicts GGR could reach P450 billion to P480 billion, fueled by new integrated resorts and the expansion of e-gaming. A recently opened integrated resort in Quezon City and upcoming projects in Cebu and Boracay are expected to boost the sector.
Even without POGOs, Tengco remains confident in record-breaking revenues. “Offshore gaming’s contribution is minimal. We can still achieve new highs in 2025,” he added.
PAGCOR’s Privatization Plan
PAGCOR is shifting towards a purely regulatory role by privatizing its casino operations, with decoupling set to begin in 2026. The agency expects to raise P60 billion to P80 billion from this move, allowing it to focus on industry oversight rather than direct casino management.
The Rise of E-Gaming in the Philippines
The rapid growth of e-gaming follows global trends, with more players choosing online platforms due to convenience and variety. Key factors driving this shift include:
- Accessibility: Players can gamble from home without visiting physical casinos.
- Game Variety: Online platforms offer diverse options, from slots to live dealer games.
- Secure Transactions: PAGCOR ensures strict regulations for fair play.
- Incentives: Online platforms attract users with bonuses and rewards.
Government Regulation and Industry Growth
As the gaming industry evolves, PAGCOR plays a crucial role in regulation. The agency ensures fair play, protects consumers, and generates government revenue for social programs and infrastructure.
Challenges and Opportunities
The industry faces challenges such as responsible gaming concerns and competition from neighboring countries. To stay competitive, the Philippines must enhance its gaming infrastructure, attract foreign investment, and strengthen regulations.
Conclusion
The Philippine gaming industry’s record-breaking revenue in 2024 proves its resilience and adaptability. The rise of e-games has compensated for declines in traditional casino earnings and POGO revenues.
With new integrated resorts and continued digital expansion, 2025 is expected to set new records. As PAGCOR transitions to a regulatory role, its focus will be on ensuring a fair and secure gaming environment.
With strategic investments and strong regulations, the Philippine gaming sector is poised for another banner year, solidifying its place as a key economic driver.
Source: GMA NEWS