PH Q2 Gross Gaming Revenues Up 32.32% To PHP89.23 Billion

The Philippine Amusement and Gaming Corporation (PAGCOR) reported a significant rise in the country’s Gross Gaming Revenues (GGR) for the second quarter of 2024, reaching PHP89.23 billion.

PAGCOR Chairman and CEO Alejandro H. Tengco said the Electronic Games (E-Games)

sector, which brought in Php30.85 billion, is still the local gaming industry’s best performer in terms of growth. I Images: PAGCOR

This marks a 32.32% increase compared to the PHP67.43 billion recorded in the same period last year, and a 9.21% increase from the first quarter’s PHP81.70 billion.

PAGCOR Chairman and CEO Alejandro H. Tengco highlighted the outstanding performance of the Electronic Games (E-Games) sector, which saw a 525% year-on-year increase, generating PHP30.85 billion.

Tengco noted that this growth would help mitigate the impact of the President's order to ban offshore gaming operations (POGOs) by the end of the year. He attributed the sector's success to crucial policy reforms implemented by PAGCOR.

Licensed casinos remained the largest contributor to the GGR, bringing in PHP49.48 billion, although this was slightly lower than last year’s PHP51.70 billion and the first quarter’s PHP49.68 billion.

PAGCOR-operated Casino Filipino outlets generated PHP4.20 billion, down 14.80% from last year’s PHP4.93 billion and 10.41% from the previous quarter’s PHP4.69 billion.

Bingo operations also saw a decline, contributing PHP4.69 billion to the GGR, lower than the PHP5.85 billion recorded in Q2 2023 and the PHP4.81 billion from the first quarter.