Philippines Gaming Industry Posts 25% GGR Rise Despite Ban on POGOs

The Philippine gaming industry showcased remarkable growth in 2024, with Gross Gaming Revenue (GGR) at PHP410 billion (US$7.15 billion). This represents a 25% increase compared to 2023. This surge comes despite a ban on Philippine Offshore Gaming Operators (POGOs). However, it does not meet the anticipated projections of PHP450 billion to PHP480 billion.

Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco highlighted the development during the ASEAN Gaming Summit in Manila. He emphasized that with offshore gaming exiting the market, the authority is focusing on technology-driven and strictly regulated solutions that offset the gap they leave behind.

Electronic Gaming Contributions

Traditional brick-and-mortar casinos remain a significant pillar in the Philippines’ economic landscape, contributing PHP210 billion (US43.5 billion), nearly half of the total GGR. The most notable contributors in FY24 were electronic games, including E-Bingo. The sector brought in a whopping PHP154.51 billion (US$2.69 billion)—a 165% year-on-year increase.

“As offshore gaming exits, PAGCOR recognizes that the future of Philippine gaming will continue to become more technology-driven,” Mr. Tengco explained. “This is why PACGCOR will continue to closely regulate electronic gaming while ensuring strict oversight to combat illegal operators.”

Ripped Benefits

PAGCOR credits the gaming industry’s growth to strategic fiscal policies that reduced license fees. “In the past, the high license fees, ranging from 50 to 55%, were deterrent to the expansion of the E-Games sector,” Mr. Tengco stated. The policy reduced the fees to 30% of GGR from January 1^st, 2025, encouraging unregistered operators to shift to the regulated market and boost profitability for licensed operators.

Beyond fee structures, PAGCOR is implementing strategies for stringent oversight essential in eradicating rogue gaming activities that compromise legal gaming standards.

A Prominent Player in the Asian Market

The Philippines now ranks as Asia’s second-largest gaming hub, trailing only Macau in GGR. This achievement is applause-worthy considering the POGO ban by President Ferdinand R. Marcos Jr. in a bid to bolster the regulated gaming industry.

While focusing on shutting down these illegal operations, PAGCOR also invested in electronic gaming innovations that became major attractions in integrated resorts. The authority has also enhanced its anti-money laundering (AML) and counterterrorism financing protocols, earning the Philippines its Financial Action Task Force (FATF) “grey list” removal.