The country's gaming industry revenue surged by 37.5 percent in the third quarter of the year to P94.61 billion, driven by the robust growth of the electronic gaming sector, the Philippine Amusement and Gaming Corp. (Pagcor) said.
In a statement on Thursday, Nov. 14, Pagcor Chairman and CEO Alejandro H. Tengco said the significant increase in gross gaming revenue (GGR) was from P68.79 billion in the same period last year.
Tengco said electronic gaming posted a remarkable 464.38 percent rise in revenue from July to September, generating P35.71 billion compared to P6.32 billion in the previous year.
“This impressive performance is a strong indication that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming,” Tengco said.
He further cited the growing influence of technology in daily life, including shopping, gaming, and entertainment, and expressed confidence in the continued expansion of the e-games sector.
“In fact, by year-end, we expect this sector to generate as much as P78 billion in license fees alone, substantially contributing to the realization of our P100 billion revenue target for 2024,” Tengco added.
Despite a slight dip of 2.27 percent compared to the previous year, licensed casinos maintained their position as the leading contributor to the third-quarter GGR, generating P50.72 billion.
Pagcor-operated Casino Filipino venues recorded P3.64 billion in revenue, while bingo operations contributed P4.52 billion.