The Philippine Amusement and Gaming Corporation (PAGCOR) announced that its 2024 revenue soared to a record high of PHP112 billion ($1.92 billion), marking a nearly 41 percent increase from the PHP79 billion ($1.35 billion) recorded in 2023.

This remarkable achievement was primarily driven by the sustained robust performance of the Electronic Games (E-Games) sector, which has become a key contributor to the agency’s financial success.
According to a press release dated January 30th, net operating income reached PHP84.97 billion ($1.45 billion), a 51 percent increase compared to the previous year’s PHP56.38 billion ($965 million). After contributing PHP68.21 billion ($1.17 billion) to nation-building initiatives, PAGCOR’s net income stood at PHP16.77 billion ($287 million).
“We are proud to announce that our 2024 financial performance is the best in PAGCOR’s history, and we thank our employees and stakeholders for making this achievement possible,” said PAGCOR Chairman and CEO Alejandro H. Tengco.


Before 2024, PAGCOR’s highest recorded gross operating revenue was PHP81.98 billion ($1.40 billion) in 2019, before the pandemic. Gaming operations and license fees remained the primary revenue sources, contributing PHP97.52 billion ($1.67 billion), while other revenue streams, including business income and service fees, added PHP14.18 billion ($243 million).
Net income more than doubled, rising from PHP6.81 billion ($117 million) in 2023 to PHP16.77 billion ($287 million) in 2024. Tengco attributed this exceptional performance to the E-Games and E-Bingo sectors, which contributed PHP48.79 billion ($835 million), or 50.03 percent of the 2024 gaming revenues.

“The continuous growth of the E-Games sector is the key driver of PAGCOR’s record-breaking performance,” Tengco emphasized. “It reflects the increasing popularity of digital gaming platforms and the transformative impact of technology on the industry.”
The licensed casino sector contributed 33.91 percent, or PHP33.07 billion ($566 million), to PAGCOR’s 2024 revenue, while the agency’s Casino Filipino venues contributed 12.99 percent, or PHP12.67 billion ($217 million).

POGO revenue represents only 3%
The Philippine Offshore Gaming Operations (POGOs) ceased operations in December 2024 following the President’s orders, with minimal impact on the country’s gaming sector.
According to the official statement, POGOs contributed PHP2.99 billion ($51 million) in 2024, representing just 3.07 percent of the total gaming revenue.
With higher revenues, PAGCOR noted a significant 37.61 percent increase in its contributions to nation-building (CNB), reaching PHP68.20 billion ($1,17 billion) compared to PHP49.56 billion ($848 million) in 2023.
“Our 2024 revenues allowed us to support more government programs and other nation-building initiatives,” Tengco said.
Remittances to the National Treasury reached PHP46.32 billion, a 33.39 percent increase from the 2023 remittance of PHP34.72 billion. PAGCOR also remitted PHP4.87 billion in franchise taxes and PHP1.09 billion in corporate income taxes to the Bureau of Internal Revenue.

Additionally, the Philippine Sports Commission received PHP2.31 billion, while PHP91.88 million was allocated as cash incentives for athletes and coaches who won in international competitions, including the 2024 Paris Olympic and Paralympic Games.
PAGCOR also released PHP12.37 billion to fund socio-civic programs under the Office of the President.
Other mandated beneficiaries of PAGCOR’s 2024 revenues included cities hosting Casino Filipino branches, which received PHP698.60 million; the Board of Claims under the Department of Justice, which was allocated PHP178.80 million; and the Renewable Energy Trust Fund, which received PHP248.01 million.
PAGCOR had previously surpassed the PHP100 billion ($1.71 billion) revenue mark only once, in 2018, when it recorded PHP104.12 billion ($1.78 billion), including a one-time sale of property worth PHP32.71 billion ($560 million).