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


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.

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