Philippines licensed casinos, including those in Manila’s Entertainment City and the regional hubs of Clark and Cebu, recorded combined gross gaming revenues of Php51.9 billion in the three months to 30 September 2024, down 2.3% year-on-year but 4.9% higher than in the June quarter.
The update formed part of gaming regulator PAGCOR’s Q3 industry update, released Thursday, in which it revealed industry-wide GGR had reached Php94.6 billion on the back of huge growth in the eGames sector. This total GGR was 37.5% higher than the same period last year and 6.0% higher than in Q2.
The eGames sector, comprising eBingo, eGames, specialty games and sports betting, chipped in Php35.7 billion in GGR, up from just Php6.32 billion in 3Q23.
“The Electronic Gaming sector recorded a phenomenal increase of 464% from last year,” said PAGCOR Chairman and CEO Alejandro Tengco.
“This impressive performance is a strong indication that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming.
“In fact, by year-end, we expect this sector to generate as much as Php78 billion in license fees alone, substantially contributing to the realization of our Php100 billion revenue target for 2024.”
Casino Filipino gaming venues operated by PAGCOR – many of which are currently in the midst of upgrade works ahead of privatization – brought in Php3.64 billion in GGR, down 26.3% year-on-year and 13.3% sequentially.
RelatedPosts
