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E-Games ignite robust growth in local gaming sector

Business

E-Games ignite robust growth in local gaming sector

By Chino S. Leyco

The local gaming industry has posted a record performance in the first three months of the year, propelled by the electronic games (E-Games) sector.

The Philippine Amusement and Gaming Corp. (Pagcor) said the country's gross gaming revenues (GGR) surged 18 percent to P81.7 billion between January and March, from P68.92 billion in the previous year.

Alejandro H. Tengco, Pagcor chairman and chief executive officer, said this latest figure sustained the positive trajectory of the gaming industry since the onset of post-pandemic recovery in the final quarter of 2022.

Tengco attributed the robust GGR to the E-Games sector, which contributed P22.5 billion, exceeding the first quarter revenues of 2023 by more than sixfold, which stood at P3.5 billion.

“The E-Games revenue performance continues to exceed our projections, and this reflects how gaming technology and the proliferation of mobile devices is influencing not only our daily lives but our entertainment choices as well,” Tengco said.

“With the way technology is constantly shaping our lives and the way we do business, and even the way we choose to be entertained, the future of gaming clearly lies in this sector,” he added.

The Pagcor chief said the state-run gaming agency’s improved regulatory policies and reduced fees also contributed to the success of the E-Games sector.

“We are confident that with our new regulatory policies, more gaming companies both here and abroad will continue to look at business and investment opportunities in the Philippine gaming industry,” he said.

The biggest contributor to the first-quarter GGR is still the country’s licensed casinos, which brought in P$9.

Related Tags

Philippine Amusement and Gaming Corp. e-games

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