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PHILIPPINE Amusement and Gaming Corp. (Pagcor) Chairman and CEO Alejandro Tengco said on Tuesday, March 18, that the Philippine gaming industry remains robust despite the ban on Philippine offshore gaming operations (POGOs).
ROBUST GAMING INDUSTRY Philippine Amusement and Gaming Corp. Chairman and CEO Alejandro Tengco (fourth from left) with some of the state gaming agency’s executives at the Association of Southeast Asian Nations Gaming Summit in Manila on Mar. 18, 2025. PAGCOR PHOTO
At this year's Association of Southeast Asian Nations (Asean) Gaming Summit in Manila, Tengco said despite the ban, the country's gross gaming revenue (GGR) in 2024 surged to P410 billion, a 25-percent increase from the previous year's P329 billion GGR.
"As offshore gaming exits, Pagcor recognizes that the future of Philippine gaming will continue to become more technology-driven. This is why Pagcor will continue to closely regulate electronic gaming while ensuring strict oversight to combat illegal operators," he said.
The Pagcor chief noted 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.
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"At that time, Pagcor was collecting between 50 to 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 added.
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, continues to serve as a vital platform for industry leaders to discuss trends, address challenges, and explore new opportunities in the region's evolving gaming landscape.
