The Philippine gaming industry remains robust despite the ban on Philippine offshore gaming operations (POGOs), Philippine Amusement and Gaming Corp. (PAGCOR) chairman and chief executive Alejandro Tengco said.
Tengco said in his keynote address at the ASEAN Gaming Summit in Manila that despite the ban, the country’s gross gaming revenue (GGR) in 2024 rose 25 percent to P410 billion from P329 billion in 2023.
“As offshore gaming exits, PAGCOR recognizes that the future of Philippine gaming will continue to become more technology-driven,” he said.
“This is why PAGCOR will continue to closely regulate electronic gaming while ensuring strict oversight to combat illegal operators,” said Tengco.
He said that while brick-and-mortar casinos contributed P201 billion – nearly half of the 2024 GGR, the e-games and e-bingo sector saw extraordinary growth and generated P154.51 billion, a 165 percent year-on-year increase.
“We partly attribute the strong performance of the local gaming industry to the strategic policy adjustments that we have implemented, such as the gradual reduction of fee rates for E-Games since 2023,” he said.
“At that time, PAGCOR was collecting between 50-percent and 55-percent license fees, thus deterring expansion, but effective Jan. 1, 2025, our fee rates for e-games stand at only 30 percent of GGR,” Tengco said.
These reductions, he said, encouraged unregistered operators to join the regulated market, while preventing voluntary closures and sustaining profitability among licensed operators.
The e-games sector achieved its 2024 GGR target of P100 billion as early as September last year.
Tengco also underscored PAGCOR’s push for stronger responsible gaming initiatives, as part of the agency’s long-term vision for a more sustainable and ethical gaming industry.
“We wish to assure our industry stakeholders that even as we strive for greater success, responsible gaming and market integrity will continue to be at the heart of our efforts,” he said.
The PAGCOR chief also expressed optimism about the industry’s growth trajectory. “The best days of Philippine gaming are still ahead of us, and we look forward to working with all of you to shape what comes next,” he said.
The ASEAN Gaming Summit, organized by Asia Gaming Brief, serves as a platform for industry leaders to discuss trends, address challenges and explore new opportunities in the region’s evolving gaming landscape.