BusinessGaming

PAGCOR Reveals Record-Setting PHP285.27 Billion in Philippine Gross Gaming Revenues for 2023

54

According to the Philippine Amusement and Gaming Corporation (PAGCOR), the country’s gambling industry has bounced back from the pandemic. In 2023, the industry’s gross gaming revenues (GGR) reached an all-time high of PHP285.27 billion, indicating potential for further growth.

According to the Chairman of PAGCOR, Alejandro H. Tengco, the revenue earned is 11.22% higher than the previous record set in 2019, before the COVID-19 pandemic affected the industry. In 2020, gaming revenues fell sharply due to restrictions on movement. 

“Last year’s accomplishment is solid proof of the local gaming industry’s adaptability and resilience which translates to PAGCOR’s enhanced ability to fulfill our nation-building mandates,” the Chairman said.

PAGCOR forecasted that the industry’s revenue will reach an impressive PHP336.38 billion by 2024, especially with new casinos opening. 

According to Chairman Tengco, the biggest contributors to the gaming industry’s revenue are the integrated resorts in the country, which earned PHP207.48 billion in 2023. The Electronic Games sector is also rapidly growing, contributing PHP58.16 billion to the industry.

On the other hand, the E-Games sector (online casinos, bingo, sports betting, and other similar games) is expected to snowball over the next few years. It is projected to contribute around PHP61.75 billion by 2024, making it one of the fastest-growing sectors in the industry.

The casinos run by PAGCOR under the Casino Filipino brand helped generate PHP19.62 billion for 2023.

Written by
Tech Beat Philippines

Tech Beat Philippines is the social media news platform for all things technology. It is also a part of the GEARS section on Daddy's Day Out.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Daddy’s Day Out is a platform that celebrates modern masculinity and offers a space where men can unite, learn, and grow together. It fosters a community where authenticity, support, and self-expression thrive unapologetically.

Related Articles

Infinix Hit USD100 Million Milestone in Shopee’s Brand Partners Club

This year, Infinix achieved a significant milestone by surpassing a total sales...

Basketball Within Your Fingertips: NBA Infinite Now Live in the Philippines!

NBA Infinite was released worldwide on February 17! Now officially licensed, the...

Love Month Continues in This PUBG MOBILE x TinderTM Collab!

PUBG MOBILE and Tinder are joining forces in the Philippines this February. Players can win...

AirAsia Introduces ‘Piso Sale’ for 2024, Flights Starting on September 4

World-class economical airline AirAsia launched the “Piso Sale” this year, where travelers...