In a remarkable turnaround, the Philippine gambling industry achieved record revenues in 2024, reaching PHP410.5 billion ($7.16 billion). This 25% increase in gross gaming revenues (GGR) underscores the sector’s resilience and potential, despite challenges such as the scrutiny and shutdown of Philippine Offshore Gaming Operators (POGOs) due to crime concerns.
Pagcor, the government agency tasked with regulating gambling, reported that e-gaming has become the largest segment, generating PHP135.7 billion—a 309.2% increase from previous years. This growth aligns with global trends favoring online platforms for their convenience and variety.
Traditional casinos within integrated resorts like Resorts World Manila and City of Dreams are also experiencing increased patronage. These integrated resorts offer hotels, casinos, shopping, and entertainment, becoming highly attractive to both international and local visitors.
Strengthened Regulatory Framework and Compliance
Moreover, the government’s increased emphasis on responsible gambling practices and stringent anti-money laundering measures has helped restore investor confidence. Pagcor’s efforts in reinforcing compliance and transparency within the industry have reassured both local and international stakeholders, indicating sustained, responsible growth moving forward.
Future Growth Projections
Looking to 2025, Pagcor anticipates a further 17% rise in GGR, driven by the ongoing growth in e-gaming and technological advancements. The industry’s positive trajectory promises continued economic contributions, including substantial investment and employment opportunities for the Philippines.
Sources and References
- Philippine Amusement and Gaming Corporation (Pagcor)
- Official reports from Resorts World Manila and City of Dreams Manila
- Industry analysis and global gaming market trends
