Philippine Gambling Sector Reached $7.2 Billion in 2024
Growth Despite Restrictions
Despite the ban on offshore operators, the Philippine gambling industry has shown strong growth. According to the Philippine Amusement and Gaming Corporation (PAGCOR), gross gaming revenue (GGR) in 2024 amounted to Php410 billion ($7.2 billion), which is 25% higher than in 2023 (Php329 billion or $5.8 billion).
Development of the Online Segment
The main contributors to industry growth were electronic games and online bingo. Key indicators:
- Online segment revenue increased by 165% to reach $2.7 billion
- Traditional casino revenue amounted to Php201 billion ($3.54 billion)
- E-Games and E-Bingo sector reached Php154.51 billion ($2.72 billion)
- License fees for online operators were reduced from 50-55% to 30%
The reduction in license fees led many operators to enter the legal market, while unlicensed companies began the registration process.
Outlook for 2025
According to PAGCOR forecasts, GGR may grow to $7.8–8.3 billion in 2025. Key growth drivers:
- Further development of electronic games
- Stricter control over illegal operators
- Raising standards for responsible gambling
PAGCOR Chairman Alejandro H. Tengco noted that the Philippine gambling industry is becoming increasingly technology-driven and requires strict regulation.
Conclusion
The Philippines continues to strengthen its position in the gambling industry. Thanks to effective regulatory policies, tax reductions, and digital technology development, the market is showing steady growth and attracting new players. The future holds even more ambitious goals and the advancement of responsible gambling.