State-run Philippine Amusement and Gaming Corp. (PAGCOR) said Wednesday it expects gross gaming revenues (GGR) to reach up to P480 billion this year despite the ban on all Philippine Offshore Gaming Operators (POGO).
This represents a 17-percent increase from P410.5 billion recorded in 2024.
PAGCOR chairman and chief executive Alejandro Tengco said a news briefing the land-based casinos or integrated resort developers showed good results in the first two months 2025, which could help offset the impact of the POGO ban.
Tengco said that if this trend is sustained for the remainder of the year, land-based casinos would account for 50 percent of total GGR.
He said that in January, GGR reached nearly P40 billion, up from P28.5 billion GGR, which excluded POGO revenues a year ago.
Tengco noted that the recently-opened integrated resort and casino in Quezon City also started to show positive growth trajectory.
He said new integrated resorts are casinos would also rise in Cebu and Boracay which could contribute to higher GGR for the gaming industry.
“They way I see it, we can easily hit P450 billion to P480 billion GGR,” Tengco said.
“I believe it [growth] will come from e-gaming, and I believe if the trend in January and February continues, land-based integrated resorts will have growth. Not significant but it will have its growth,” he said.
PAGCOR’s e-gaming business is also expected to contribute 45 percent of total GGR due to increasing popularity of digital gaming platforms.
Tengco said more unregistered e-gaming operators are opting to register with the agency after it lowered its license fees.
Meanwhile, PAGCOR’s Casino Filipino is also expected to account for the remaining 5 percent of total GGR.
POGOs ceased operations in December 2024 upon the order of President Marcos. In 2024, it accounted for 9 percent of total GGR.
Tengco said that over the next two to three years, he expects equal GGR contribution from land-based casinos and e-gaming
PAGCOR and San Miguel Corp. recently broke ground on the P2.45-billion new PAGCOR Corporate Center in a two-hectare property in the former’s 15-hectare Nayong Pilipino property in Pasay City.
The project will be fully financed and constructed by SMC and is expected to be completed by 2028.