The Philippine gaming industry recorded notable growth in 2024, with land-based casinos remaining the largest contributor to gross gaming revenue (GGR).
According to the Philippine Amusement and Gaming Corporation (PAGCOR), these establishments generated PHP201.83 billion ($3.52 billion), accounting for 54.2 percent of the industry’s total GGR.
Overall, the industry’s GGR reached PHP372.33 billion ($6.5 billion) in 2024, reflecting a 30.52 percent increase compared to PHP285.27 billion ($4.98 billion) in 2023.
“This GGR feat underscores the crucial role of licensed casinos in sustaining the growth momentum of the Philippine gaming sector,” said PAGCOR Chairman and CEO Alejandro H. Tengco. “They remain our biggest revenue drivers and a major source of government funding for socio-civic programs.”
eGames sector reports strong growth
While land-based casinos retained the largest share, the eGames and eBingo segment posted significant growth. This digital sector generated PHP154.51 billion ($2.7 billion) in 2024, a 165.66 percent increase from PHP58.16 billion ($1.02 billion) in 2023. It now represents 41.51 percent of the total GGR.
“The significant leap in eGames and eBingo revenues shows that the industry is evolving rapidly. PAGCOR is committed to keeping pace with technological advancements while strongly advocating responsible gaming,” Chairman Tengco added.
Casinos directly managed by PAGCOR contributed PHP15.97 billion ($278 million), representing 4.29 percent of the total GGR.
Higher contributions to public funds
The industry’s overall growth significantly enhanced PAGCOR’s financial performance. The agency’s total revenue rose by 40.74 percent to PHP111.71 billion ($1.95 billion) in 2024, up from PHP79.37 billion ($1.39 billion) in 2023.
In a press release issued Thursday, PAGCOR noted that its contribution to government programs increased by 37.61 percent to PHP68.20 billion ($1.19 billion), while its net income more than doubled to PHP16.76 billion ($292 million), compared to PHP6.81 billion ($119 million) the previous year.
Including offshore gaming operations—banned in late 2024 but still contributing PHP38.14 billion ($666 million)—the industry’s total revenue reached PHP410.47 billion ($7.17 billion).
With the remittance of 50 percent of its net income (PHP8.45 billion or $147 million) to the national treasury, PAGCOR’s total contribution to the government reached PHP76.66 billion ($1.34 billion) in 2024.
“With a larger GGR base, we anticipate broader economic benefits, including increased employment, investment, and public funding,” Tengco said, referring to the wider impact of the industry’s growth.
