Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco today said the Philippine gaming industry remains robust despite the ban on Philippine Offshore Gaming Operations (POGOs).
During his keynote address at this year’s ASEAN Gaming Summit in Manila, Mr. Tengco said despite the ban, the country’s Gross Gaming Revenue (GGR) in 2024 surged to Php410 billion, a 25% increase from the previous year’s Php329 billion GGR.
“As offshore gaming exits, PAGCOR recognizes that the future of Philippine gaming will continue to become more technology-driven,” he said. “This is why PAGCOR will continue to closely regulate electronic gaming while ensuring strict oversight to combat illegal operators.”
The PAGCOR chief noted that while brick-and-mortar casinos contributed Php201 billion – nearly half of the 2024 GGR, the E-Games and E-Bingo sector saw extraordinary growth and generated Php154.51 billion, a 165% year-on-year increase.
“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% license fees, thus deterring expansion, but effective January 1, 2025, our fee rates for E-Games stand at only 30% of GGR,” Mr. Tengco added.
These reductions, according to the PAGCOR chief, encouraged unregistered operators to join the regulated market while preventing voluntary closures and sustaining profitability among licensed operators.
As a result, the E-Games sector achieved its 2024 GGR target of Php100 billion as early as September last year.
Mr. Tengco also underscored PAGCOR’s push for stronger responsible gaming initiatives, as part of the agency’s long-term vision for a more sustainable and ethical gaming industry.
“We wish to assure our industry stakeholders that even as we strive for greater success, responsible gaming and market integrity will continue to be at the heart of our efforts,” he said.
The PAGCOR chief also expressed optimism about the industry’s growth trajectory.
“The best days of Philippine gaming are still ahead of us, and we look forward to working with all of you to shape what comes next,” he said.
The ASEAN Gaming Summit, organized by Asia Gaming Brief, continues to serve as a vital platform for industry leaders to discuss trends, address challenges, and explore new opportunities in the region’s evolving gaming landscape.
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