Philippines' Q2 Gaming Revenues Surge 32.32%, Reaching Php89.23 Billion

 

The Philippine Amusement and Gaming Corporation (PAGCOR) has reported that Gross Gaming Revenues (GGR) for the second quarter of this year reached Php89.23 billion, representing a 32.32% increase compared to the Php67.43 billion recorded in the same period last year.

 


This latest GGR also marks a 9.21% rise from the Php81.70 billion posted in the first quarter of the year.

 


According to PAGCOR Chairman and CEO Alejandro H. Tengco, the Electronic Games (E-Games) sector played a significant role in this growth.

 

“The E-Games sector saw an impressive 525% year-on-year increase, rising from Php4.93 billion," Tengco stated. "This strong performance will help mitigate the impact of the government’s decision to prohibit offshore gaming operations (POGOs) by year-end.”

 

Tengco further credited the outstanding performance of E-Games to the important policy reforms that PAGCOR has implemented over the past year.

 

Meanwhile, licensed casinos, which contributed Php49.48 billion during the second quarter, remain the largest source of GGR. However, this figure is slightly lower than last year’s Php51.70 billion and the first quarter's Php49.68 billion.

 


Casinos operated by PAGCOR under the Casino Filipino brand generated Php4.20 billion, which is a 14.80% decline compared to the Php4.93 billion from the same period in 2023 and a 10.41% drop from last quarter’s Php4.69 billion.

 

Bingo operations brought in Php4.69 billion, a decrease from the Php5.85 billion recorded in the second quarter of 2023 and slightly below the Php4.81 billion posted in the first quarter.

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