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Philippines licensed casinos no longer main GGR driver as gaming revenues fall to US$890 million in 1Q25

Ben Blaschke by Ben Blaschke
Wed 7 May 2025 at 16:12
Winds of change

PAGCOR 's Chairman and CEO Alejandro Tengco

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Licensed casinos in the Philippines, including those in Manila’s Entertainment City and in Clark, generated gross gaming revenues of Php49.3 billion (US$890 million) in the first three months of 2025 – very slightly down on the same period last year and 5.1% lower than in the December 2024 quarter.

However, total GGR grew by 27.4% year-on-year to Php104.1 billion (US$1.88 billion) thanks to the continued surge in the E-Games segment, according to information from PAGCOR. The regulator also revealed that E-Games has for the first time become its main revenue driver in Q1.

“The E-Games and E-Bingo segment made history by becoming the industry’s top revenue driver for the first time, contributing Php51.4 billion  (US$927 million) or 49.36% of the total first quarter GGR,” said PAGCOR Chairman and CEO, Alejandro Tengco.

“This represents not just revenue growth but how consumer behavior continues to shift towards digital, on-demand gaming experiences, accelerated by greater access to mobile technology.

“As digital platforms take center stage, the Philippine gaming industry is likewise undergoing a paradigm shift. Hence, our goal as a regulator is to strike the right balance between innovation, player protection and long-term industry sustainability.”

Licensed casinos generated 47.3% of total GGR for the quarter while PAGCOR-operated casinos generated Php3.45 billion  (US$62 million) in revenues, making up 3.3%.

“While there was a minimal dip in revenues from licensed casinos compared to last year’s figures due to growing digital competition, this segment shows sustained strength and relevance,” Tengco said.

“The performance of brick-and-mortar casinos remains critical to industry stability, particularly in tourism-driven hubs such as Entertainment City and Clark.”

PAGCOR last week reported net income of Php4.22 billion (US$75.6 million) in 1Q25, up 23% year-on-year due to higher gaming revenues and a significant fall in operating expenses.

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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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