The ban of Philippine Offshore Gaming Operators (POGO) did not dent the Philippines’ gaming operations, with industry-wide GGR reaching PHP410 billion ($7.1 billion) in 2024, Alejandro H. Tengco, Chairman of PAGCOR said at the ASEAN Gaming Summit 2025.
The Philippine Amusement and Gaming Corporation Chairman was the opening speaker on the first full day of the ASEAN Gaming Summit 2025, in a speech where he went over the monumental changes in the industry since last year’s edition.
In 2024, President Ferdinand R. Marcos Jr. issued an Executive Order imposing an immediate ban on offshore gaming in the country by December 31st of last year.
“The ban was both a challenge and an opportunity for PAGCOR, as we steered the orderly cessation of all POGO operations, while mitigating any potential economic impacts,” Tengco highlighted.
However, Tengco underlined that, despite the ban on offshore gaming operators, the Philippine gaming industry continued its “outstanding performance,” with industry-wide GGR reaching PHP410 billion ($7.1 billion), a 25 percent increase from 2023.
“While the brick-and-mortar contributed to nearly half of the total GDP with PHP201 billion ($3.46 billion), it was the eGames and e-tables sector that saw an outstanding, astounding 165 percent growth, generating PHP154.5 billion ($2.67 billion) in GGR, a 28 percent rise,” Tengco added.
“As offshore gaming exits, PAGCOR recognizes that the future of Philippine games will continue to become more technology-driven. This is why PAGCOR welcomes the huge potential of electronic gaming, while ensuring strict oversight.”
According to the PAGCOR chief, a reduction in fee rates for eGames to only 30 percent of GGR, effective since January 1st, 2025 encouraged unregistered operators to join the regulated market while preventing voluntary closures and sustaining profitability among licensed operators.
Despite the ban order, the POGO sector still contributed PHP2.99 billion ($51 million), or 3.07 percent of the total gaming revenues of last year.
Tengco previously estimated that GGR in 2025 could range between PHP450 billion and PHP480 billion ($7.77 billion – $8.3 billion) this year, thanks to the rise in electronic gaming and contributions from improving results at integrated resorts.
According to the PAGCOR Chairman, the ban was also a crucial step for the Philippines to be removed from the Financial Action Task Force (FATF) “grey list” of jurisdictions under increased monitoring.
The country was removed from the list on February 21st, 2025, after addressing the 18 action plan items identified by the FATF in June 2021.
“The removal is because we have demonstrated that we are firm and committed to finding money laundering and ensuring the integrity of our financial system,” he noted.
The PAGCOR Chairman is the recipient of a special honorary award at the Asia Gaming Awards 2025, held at the Grand Ballroom of the Shangri-La The Fort in Bonifacio Global City (BGC), Manila.
