Philippines’ Gaming GGR Could Reach $8.3 Billion in 2025
Forecast for 2025
PAGCOR Chairman Alejandro Tengco expects the gross gaming revenue (GGR) in the Philippines to reach $7.7 to $8.3 billion in 2025. This figure would be a record high for the country.
Key factors driving growth:
- In January 2025, GGR reached $690.7 million, up 40% from the same period last year.
- In 2024, GGR was $7.2 billion, reflecting a 24.8% increase compared to 2023.
- Reduction in taxes for online operators from 35% to 30% in January 2025.
Growth of Online Gambling
The online gambling sector is experiencing rapid expansion. In 2024, revenues in this sector increased by 309%, reaching $2.34 billion.
Further growth to $2.76 billion is projected for 2025. The main driver of this expansion is the simplification of user registration and competitive licensing fees comparable to global jurisdictions.
Contribution of different sectors to GGR in 2024:
| Sector | Share of GGR |
|---|---|
| Land-based casinos | 49% |
| Electronic gaming | 38% |
| Commercial casinos licensed by PAGCOR | 13% |
Competition in the Asian Market
The Philippines ranks second in Asia in terms of GGR, surpassing Singapore. However, its closest competitor could be Thailand, which is considering legalizing online gambling in 2025.
PAGCOR Financial Performance
In 2024, PAGCOR recorded a record revenue of $1.92 billion (+41% compared to 2023). Net operating income grew by 51%, reaching $1.46 billion. After allocations to the state budget, net profit stood at $287 million, a 146% increase from the previous year.
Conclusion
Successful tax policy reforms, the growth of the online segment, and overall increases in gaming revenues suggest that 2025 will be a record year for the Philippine gaming industry. Lower taxes, simplified registration, and rising interest in online gaming will further drive market development.