Philippine gross gaming revenue (GGR) is likely to hit a new record this year, said on Wednesday Alejandro Tengco (pictured in a file photo), chairman of the country’s regulator, the Philippine Amusement and Gaming Corp (Pagcor).
The Philippine gaming sector – including non-casino operations – is expected to produce GGR of between PHP450 billion (US$7.77 billion) to PHP480 billion in 2025, Mr Tengco told reporters at a briefing at the agency’s office.
The official said the full-year 2025 target was based on the estimated PHP40 billion GGR generated in January, up from PHP28.5 billion a year earlier.
The Pagcor chairman said the increase in GGR this year would in likelihood be supported by a better performance of the electronic games sector.
“I believe it [growth in GGR] will come from e-Games and I believe the trend in January and February will continue,” Mr Tengco was quoted as saying. He added that GGR for land-based casinos would also grow, “though not as significantly”.
According to the Pagcor chief, e-Games could soon “match” the GGR of land-based casinos “in the next two to three years”.
Citing preliminary data, the head of Pagcor said the country’s gaming sector generated record GGR of PHP410.48 billion in 2024, up 24.8 percent year-on-year. The land-based segment was the largest contributor to GGR, accounting for 49 percent, followed by e-Games at 38 percent.
The preliminary data showed that GGR from e-Games in 2024 rose by 309.2 percent year-on-year, to PHP135.7 billion, while that of licensed casinos fell by 2.7 percent, to PHP201.8 billion.
In January, Pagcor implemented a fresh reduction to the remittance rates for online and on-site betting platforms. The gaming regulator said the fee had been lowered to 30 percent, from 35 percent previously.
Pagcor’s E-Gaming Licensing Department said in comments to GGRAsia that the regulator expects GGR from e-Games to reach PHP160 billion in 2025.
Pagcor reported revenue of PHP111.72 billion for full-year 2024, up circa 40.7 percent year-on-year from the PHP79.38 billion recorded in 2023.
On Wednesday, Mr Tengco said the Philippines was now generating the second-largest gaming revenue in Asia after Macau, and exceeding that of Singapore.
But he warned that regional competition was increasing and the Philippines risks losing out to Thailand, if that national legalises casino gaming.
Thailand’s tourist arrivals give it an advantage in drawing gamblers and investors, observed Mr Tengco, adding that casino legalisation in that country was “a big threat” to the Philippine gaming sector.
The Thai authorities are currently scrutinising the government’s proposed Entertainment Complex Bill, which would pave the way for legalised gambling.
Philippines GGR could reach at least US$7.7bln in 2025, says Pagcor chief
