Philippine licensed casinos remain the local regulator’s “biggest revenue drivers and a major source of government funding for socio-civic programmes”.
That is according to comment by Alejandro Tengco (pictured in a file photo), chairman and chief executive of the regulator, the Philippine Amusement and Gaming Corp (Pagcor).
His Wednesday remarks, issued in a press release, followed the publication of the full-year gross gaming revenue (GGR) data for the whole industry.
Licensed casinos – a commercial-enterprise category within the country’s gaming industry setup – accounted for 54.2 percent, or PHP201.84 billion (US$3.53 billion) of the sector’s 2024 GGR of PHP372.33 billion.
The latter figure – termed in the Wednesday update as “an all-time high” – was nonetheless lower than the PHP410.48-billion preliminary figure forecast in late February by Mr Tengco.
Licensed casinos in the national capital region, including the private-sector ones in Entertainment City, in Metro Manila, recorded GGR of PHP164.08 billion last year, down 5.3 percent from 2023.
Clark licensed casinos generated GGR of PHP26.89 billion in 2024, 1.1-percent lower than in the previous year.
Licensees within the so-called “Greenfield Zone” posted GGR of PHP9.47 billion, up 71.9 percent from the PHP5.51 billion in 2023. The latter is a new category covering those rural provinces, cities or municipalities deemed to have high potential for tourism development.
The 30.5 percent year-on-year gain in whole-industry GGR was strongly supported by better performance from the electronic games segment.
Wednesday’s release stated: “Aside from land-based casinos, GGR growth in 2024 was largely driven by the e-Games and e-Bingo segment which posted PHP154.51 billion, a 165.66 percent jump from PHP58.16 billion in 2023.”
Electronic games – including bingo – accounted for 41.5 percent of total 2024 GGR, show the Pagcor data.
Wednesday’s statement citing the Pagcor chairman said overall GGR performance had also fuelled “significant increases” in Pagcor’s overall revenues, which rose “40.74 percent from PHP79.37 billion in 2023, to PHP111.71 billion in 2024”. Pagcor’s own 2024 net income surged by 146.0 percent year-on-year, to PHP16.76 billion.
The statement added: “Contributions to nation-building followed suit, rising 37.61 percent from PHP49.56 billion to PHP68.20 billion.”
It further noted that total contributions to the national government “reached PHP76.66 billion in 2024”.
Mr Tengco stated: “With a bigger GGR base, we’re looking at a stronger multiplier effect – more jobs, more investments, and more public funds for social programmes.”
He added: “The Philippine gaming industry isn’t just growing – it’s evolving, and with it comes greater responsibility and opportunity.”
