The gaming industry in the Philippines posted strong revenue for the second quarter of the year. According to PAGCOR or the state-run Philippine Amusement and Gaming Corp, GGR for the period rose 32.32% percent, to P89.23 billion or £1.22 billion or €1.428 billion or $1.563 billion. The figure represents a 9.21% quarter-on-quarter increase.
Land-based casinos generated P49.48 billion in revenue, down from P51.7 billion in 2023. The owned-and-operated casinos by PAGCOR, under the Casino Filipino brand, added P4.2 billion, down 14.7% from the same period last year. Bingo contributed P4.69 billion, a decrease from P5.85 billion the previous year.
The electronic gaming sector was the standout performer. It grew 525% over the past year, to almost P31 billion.
Alejandro Tengco, PAGCOR chief, said that the sector continues to surpass targets. Egames could help compensate for any shortfall resulting from the president’s order banning offshore gaming operations in the Philippines.
Authorities have repeatedly linked them to online scams, human trafficking, money laundering, and murder.
POGOs were first introduced in 2016. Authorities have repeatedly linked them to online scams, human trafficking, money laundering, and murder. The ban means losing P20 billion in yearly revenue. Yet, POGO critics say it cost almost as much to monitor the crime-ridden industry.
Reports indicate that the shutdown could leave up to 30,000 Filipinos out of work, along with a significant impact on the real estate rental market.
By suggesting the government generate additional revenue by regulating e-sabong or online cockfighting, a lot of lawmakers sparked outrage.
David Suarez, Deputy speaker and Quezon representative said cockfighting, including e-sabong could be a big moneymaker. He asked, “How can we properly… regulate this in such a way where the government can earn income?”
