The Philippine Amusement and Gaming Corporation (PAGCOR) has recently shared a comprehensive report on the gambling industry’s performance in the third quarter. PAGCOR has stated that this period saw a significant increase in gross gaming revenues (GGR). This was largely due to the advancements made in the egaming sector.
Philippines Gaming Industry
The Philippine gaming sector has grown and evolved significantly over the years, thanks to a mixture of traditional land casinos, online gaming platforms and eGaming. Regulated by the Philippine Amusement and Gaming Corporation (PAGCOR), the industry plays a significant role in the country’s economy, providing a source of government revenue and creating numerous employment opportunities. The sector includes luxurious integrated resorts, regional casinos, and other gaming establishments spread across various parts of the Philippines, primarily in Manila’s Entertainment City and Clark. These facilities are a magnet for domestic and foreign tourists, which boosts the tourism and hospitality industries. The government controls the gambling industry in order to reduce illegal gambling and channel revenue towards public welfare.
The Philippine gaming market is experiencing rapid growth in e-gaming. This sector includes online gambling platforms such as electronic casino games and sports betting. They are often offered by Philippine Offshore Gaming Operators. The growth of digital technology in the Philippines and an increase in internet penetration have led to a rise in e-gaming. The rise of online gaming and mobile platforms has given many Filipinos access to different egaming experiences such as live dealer, poker, slots and other games. This growth has led to regulatory challenges and opportunities, as the government seeks to balance consumer protection, responsible gaming, and market expansion while combating illegal e-gaming operators and ensuring that taxes and licensing fees benefit the country’s economy.
E-Gaming’s Impressive Surge Balances Casino & Bingo Declines
PAGCOR’s data showed a notable 37.5% increase in the Philippines’ gross gaming revenue, which reached PHP 94.61 billion ($1.61 billion) during Q3, compared to PHP 68.79 billion recorded during the same period last year. This growth was driven by the electronic gaming industry, which has seen a 464.4% increase year-on-year. E-gaming’s GGR surged to PHP 35.71 billion ($610 million) from PHP 6.32 billion in Q3 2023.
Despite the impressive growth in eGaming, licensed casino revenue remained dominant, with PHP 50.72 Billion ($860 M) contributing to the total GGR. This figure represents a 2.3% drop compared to PHP 51.9 billion in the same quarter of last year.
Meanwhile, PAGCOR’s Casino Filipino establishments generated PHP 3.64 billion ($62 million) in GGR, reflecting a notable 26.3% decline from PHP 4.94 billion reported in Q3 of the previous year. The total GGR was also boosted by the bingo operations, which contributed PHP 4.52 million ($77.8 million). This is a significant 19.4% decrease from PHP 5.61 millions generated in Q3 2019.
The report highlights the fact that the growth of the e-gaming industry effectively compensated for the downturns experienced in some segments.
Optimism from PAGCOR’s Tengco
Alejandro H. Tengco, the chairman and CEO of PAGCOR, expressed his enthusiasm about the quarter’s results, emphasizing the remarkable expansion seen in the e-gaming sector. According to Tengco, this impressive performance highlights the sector’s effective use of modern technology and mobile devices.
Tengco remains confident that technology will continue to play a central role in driving the gaming industry’s future growth, both within the Philippines and globally. He predicts that the electronic gaming industry will continue to grow, thanks to rapid technological advances and their growing role in everyday life.
Tengco added further insights, projecting that the sector could generate up to PHP 78 billion in license fees by year-end, contributing significantly towards PAGCOR’s ambitious goal of achieving PHP 100 billion in revenue for 2024.
Major E-Gaming Operators
In the Philippines najor operators like DFNN BetConstruct Megasportsworld play a key role in shaping the landscape. DFNN caters to a large audience through its online gaming solutions and interactive gaming terminals. They offer games like virtual sports betting, poker and bingo. BetConstruct, an established global gaming provider, provides a wide range of digital gaming platforms for Filipinos, including sportsbooks, casino games and slots. Megasportsworld, a sportsbook that covers the major sporting events, such as boxing, basketball and international soccer leagues, focuses on betting. Live dealer games are a key offering in the egaming sector. They replicate the traditional casino experience through real-time streamed content, while online slots that have diverse themes and mechanics ensure player engagement and variety.
Cambodia, Vietnam, Malaysia, and other countries in Asia have their own e-gaming operators. NagaWorld, for example, in Cambodia offers both digital and physical gaming services. Its online offerings extend beyond the land-based casino. Operators such as GentingBet, 12BET and 12BET offer online sports betting and casinos to both local and international customers in Malaysia. Vietnam’s market, while tightly regulated, has notable platforms offering lotteries, sports betting, and online card games. These operators tend to focus on table games, virtual sports and slot machines, which reflects their diverse player base and highlights the competitiveness and diversity of the e-gaming industry in Asia.
Offshore Operators and Government Action
Similarly, we have reported that on November 5th, 2024, Ferdinand R. Marcos Jr. will sign Executive Order No. As we reported recently, on November 5, 20,24, President Ferdinand Marcos Jr. issued Executive Order (EO), No. This decisive action followed President Marcos’s pronouncement during his State of the Nation Address in July 2024, where he highlighted the adverse impacts of offshore gaming on national security and public order. The EO requires that all POGO operations cease by December 31st 2024 and prohibits issuance and renewal of any licenses or permits. The order created two Technical Working groups to ensure its effective implementation: one focused on the recovery of employment and reintegration of displaced workers and the other dedicated to intensifying crackdowns on illegal offshore gaming.
The enactment EO 74 will have significant effects on the Philippine gaming industry as well as the broader economy. While the ban is expected to reduce crime rates and the social instability that comes with offshore gaming in general, it will also pose challenges, especially for Filipino workers who are employed in the POGO sectors. The Technical Working Group on Employment Recovery and Reintegration is headed by the Philippine Amusement and Gaming Corporation. Its task is to develop strategies for these workers to help them transition into alternative employment through programs of upskilling and recertification. Additionally, the comprehensive ban aims to enhance the country’s international reputation by addressing concerns related to money laundering and other illicit activities linked to offshore gaming operations.
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