The combined gross gaming revenues of the Philippines’ licensed casinos fell by 4.3% year-on-year to Php49.48 billion (US$864 million) in the three months to 30 June 2024, which was also very slightly down from the Php49.68 billion (US$867 million) reported in Q1.
However, according to figures released by gaming regulator PAGCOR on Sunday, the industry as a whole continues to boom, with GGR up 32.3% year-on-year and 9.2% quarter-on-quarter to Php89.23 billion (US$1.56 billion) thanks to the growth of the E-Games sector.
PAGCOR Chairman and CEO Alejandro H. Tengco said the E-Games sector, which brought in Php30.85 billion (US$539 million), is still the local gaming industry’s best performer in terms of growth.
“The E-Games sector recorded an impressive 525% increase from the Php4.93 billion (US$86.1 million) record year-on-year,” he said. “This sector continues to surpass targets and should help cover up for any shortfall resulting from the President’s order banning offshore gaming operations or POGOs by the end of the year.”
PAGCOR-operated casinos under the Casino Filipino brand brought in Php4.20 billion (US$73.3 million) in Q2, 14.8% lower than the 2023 record of Php4.93 billion (US$86.1 million) and 10.41% lower compared to last quarter’s Php4.69 billion (US$81.9 million).
Bingo operations contributed Php4.69 billion (US$81.9 million) in GGR, also lower than the 2023 second quarter revenue of Php5.85 billion (US$102 million) and the first quarter’s take of Php4.81 billion (US$84.0 million), PAGCOR said.
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