Despite the ban, gross gaming revenue (GGR) surged 25 percent in 2024 to P410 billion, up from P329 billion in the previous year.
While traditional brick-and-mortar casinos contributed P201 billion, the E-Games and E-Bingo sector saw explosive growth, generating P154.51 billion, a 165-percent year-on-year increase.
“As offshore gaming exits, PAGCOR recognizes that the future of Philippine gaming will continue to become more technology-driven,” PAGCOR chair and CEO Alejandro H. Tengco said during the recent ASEAN Gaming Summit in Manila.
“This is why PAGCOR will continue to closely regulate electronic gaming while ensuring strict oversight to combat illegal operators.”
How PAGCOR did it
PAGCOR credits this shift to strategic fee reductions, which encouraged unregistered operators to enter the regulated market.
“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,” he said.
“At that time, PAGCOR was collecting between 50 to 55 percent license fees, thus deterring expansion, but effective Jan. 1, 2025, our fee rates for E-Games stand at only 30 percent of GGR,” he added.
