The Philippines' gross gaming revenue is expected to grow ‘at least 15 percent’ this year, following record-breaking 2023.

The Philippines' gross gaming revenue (GGR) growth is "still filled by the regulatory framework," Daniel Cheng told AGB on the sidelines of the ASEAN Gaming Summit.

The Philippine Amusement and Gaming Corporation (PAGCOR) anticipates a surge in GGR to reach PHP 336.38 billion ($6 billion) this year, driven by the growth of E-Games and the establishment of new integrated resorts.

The Philippines’ Gross Gaming Revenue (GGR) will increase to at least $10 billion in the full year 2027, according to estimates from GCG Gaming Advisory Services.

It’s just a week now until the ASEAN Gaming Summit returns to the Philippines, which is expected to be one of Asia’s top performing jurisdictions with forecast gross gambling revenue of PHP65 billion ($1.15 billion). 

The gross gaming revenue (GGR) for the casino sector in the Philippines during the third quarter totaled PHP68.8 billion ($1.24 billion), marking a 20.1 percent yearly increase. This figure is slightly higher than the PHP67.4 billion ($1.22 billion) reported in 2Q23.

PAGCOR’s Chairman is aiming to double the nation’s gross gaming revenue by 2028, leveraging new products and an increase in tourism arrivals, including punters from China.

Analysts at Maybank say that the Philippines’ gross gaming revenue (GGR) in 2023 could increase 15 percent over the medium term, “driven by domestic demand”, maintaining their positive outlook for the country’s gaming growth.

First quarter industry gross gaming revenue (GGR) in the Philippines totaled PHP68.9 billion ($1.24 billion), up by 5.4 percent from the previous quarter and up by 76 percent yearly.

The Philippine Inland Gaming Operators (PIGOs) are looking to expand, as the space gets increasingly crowded, with the need for new products and, potentially, new markets.