Philippine GGR to reach up to US$8.3bn in 2025, PAGCOR chairman says

Alejandro Tengco expects the Philippines’ gross gaming revenue to hit a new record this year.

The Philippines.- Alejandro Tengco, the Philippine Amusement and Gaming Corporation (PAGCOR)’s chairman and CEO, expects the country’s gross gaming revenue (GGR) to reach between PHP450bn (US$7.77bn) and PHP480bn (US$8.3bn) this year, setting a new record. The projection is supported by the PHP40bn (US$690.7m) in GGR reported in January, an increase from PHP28.5bn (US$492.1m) in the same month last year.

Tengo said the growth will be mainly due to improved performance in the electronic games sector. He said: “I believe it [growth in GGR] will come from e-gaming and I believe the trend in January will continue.

“E-games we continue to attract that unregistered to register because of the rates that are now comparable to the license fees of online gaming jurisdictions around the world. We will continue to accept unregistered to register so that is where growth will come from, and as I said, the IRs are gaining momentum.”

According to the e-gaming licensing department, GGR from e-games could reach PHP160bn (US$2.76bn) this year. GGR for 2024 was up 24.8 per cent year-on-year to PHP410.48bn (US$7.09bn). The land-based segment contributed the largest share to GGR, accounting for 49 per cent, followed closely by e-games, which represented 38 per cent. GGR from e-games surged by 309.2 per cent year-on-year to PHP135.7bn (US$2.34bn), while GGR from commercial casinos licensed by PAGCOR was down 2.7 per cent to PHP201.8bn (US$3.49bn).

PAGCOR posted an all-time revenue record of PHP112bn (US$1.92bn) in 2024, up 41 per cent in year-on-year terms. The regulator posted net operating income of PHP84.97bn (US$1.46bn), up 51 per cent year-on-year. Net income after contributions to nation-building reached PHP16.77bn (US$287m), up 146 per cent year-on-year.

In January, PAGCOR announced a reduction in fees for e-games from 35 per cent to 30 per cent. The rates for e-games run by integrated resorts were cut to 25 per cent in recognition of physical operators’ overheads. The fees were calculated as a fixed percentage of the GGR. According to the regulator, the reductions will provide gaming operators with additional resources for marketing and help promote growth and profitability within the sector.

Alejandro Tengco expects the Philippines’ gross gaming revenue to hit a new record this year. The Philippines.- Alejandro Tengco, the Philippine Amusement and Gaming Corporation (PAGCOR)’s chairman and CEO, expects the…