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Philippines’ gambling revenue hits record $7.16B in 2024
The Philippines hit a record in 2024, reporting PHP410 billion ($7.16 billion) in gross gambling revenue (GGR), marking a 24.6% increase when compared to 2023.
According to Philippine Amusement and Gaming Corporation (Pagcor) Chairman Alejandro Tengco, the significant growth is largely driven by the iGaming sector, which recorded a 165% increase in revenue, reaching PHP154.51 billion ($2.7 billion).
Known as ‘E-Games,’ the iGaming sector in the Philippines includes everything from online casinos to internet-based bingo. With this rapid rise, the sector surpassed its initial yearly target of PHP100 billion ($1.75 billion) as early as September.
A big part of this success is linked to policy changes, such as reduced licensing fees from 35% to 30%, after a previous reduction of 55% in 2023. These adjustments have helped attract more local businesses to the regulated market, boosting the industry’s overall profitability.
Unlike iGaming, land-based casinos still hold the lead, generating PHP201 billion ($3.5 billion) in GGR, and despite a major regulatory shift, including the shutdown of Philippine Offshore Gaming Operators (POGOs), the country’s gaming market remains strong and increasingly tech-focused.
Alejandro Tengco said:
“As offshore gaming exits, Pagcor recognizes the future of Philippine gaming will continue to become more technology-driven. 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. The best days of Philippine gaming are still ahead of us.”
Pagcor also committed to ensuring strict regulation of online gaming, Moreover, recently, the Philippines’ Central Bank considered restricting gambling transactions.
FAQs
Is gambling legal in the Philippines?
Gambling is legal in the Philippines and regulated by the Philippine Amusement and Gaming Corporation (PAGCOR) and other local authorities.
What is the legal gambling age in the Philippines?
The legal gambling age in the Philippines is 21 years old for casino gambling and 18 years old for lotteries and other forms of betting.
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