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Philippines Gaming Industry Hits Record High, E-Games Lead Surge

May 16, 2024 Philippines iGaming & GamblingIndustry Updates

With Gross Gaming Revenue (GGR) of Php81.7 billion (US$1.42 billion) in Q1 2024, the Philippine gaming industry shattered all previous records. This is a growth of 18.5% over the previous year and 2% over the previous quarter.

The E-Games category, which has had an annual growth of Php3.5 billion to Php22.5 billion, is leading the increase.

Alejandro H. Tengco, CEO of PAGCOR, explains this by saying that mobile gadgets and gaming technology are increasingly influencing people’s choices for entertainment.

“There’s no doubt that this industry has the future of gaming,” Tengco said, highlighting the potential for new regulations to draw in more foreign investment.

Although they continued to make the largest contribution, traditional casinos had an 8.2% decline to Php49.7 billion. As seen by the decline in PAGCOR-operated casinos and bingo operations, this pattern is congruent with the shift to online platforms.

See Related Articles: Philippine Gaming Regulator PAGCOR Hits Record-Breaking Quarterly Revenue

Original Story by: Inside Asian Gaming

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