Philippine Gambling Hits Record PHP 372B in 2024
Key Takeaways
The Philippine gambling industry experienced strong growth in 2024. According to Alejandro Tengco, Chairman and CEO of the Philippine Amusement and Gaming Corporation (Pagcor), licensed casinos once again served as the primary contributors to public funds. With a gross gaming revenue (GGR) of PHP 372.33 billion – equivalent to approximately USD 3.53 billion – the industry reached a new record high. More than half of this amount came from Pagcor-licensed casinos.
Licensed Casinos as the Main Source of Public Revenue
Pagcor-licensed casinos contributed PHP 201.84 billion to the GGR in 2024, accounting for 54.2 percent of total revenue. Tengco emphasized that these establishments are not only economically significant but also play a major role in funding social programs. The revenue supports areas such as education, healthcare, and infrastructure projects.
Strong Performance Despite Missed Forecast
Pagcor had originally projected an even higher GGR of PHP 410.48 billion for 2024. Nevertheless, the actual result represents a 30.5 percent increase compared to the previous year. The electronic gaming segment was the main driver behind this growth.
Regional Differences in Casino Operations
A look at the regional figures reveals significant differences:
- Metro Manila: PHP 164.08 billion GGR, a decline of 5.3 percent compared to 2023.
- Clark: PHP 26.89 billion, a decrease of 1.1 percent.
- Greenfield Zone: PHP 9.47 billion – an increase of 71.9 percent compared to PHP 5.51 billion the previous year.
The Greenfield Zone, which includes rural areas with tourism potential, is increasingly developing into an important market.
Electronic Gaming as a Growth Driver
Electronic games, including e-Bingo, contributed PHP 154.51 billion to the GGR in 2024. This represents growth of 165.66 percent compared to 2023. As a result, e-Games accounted for 41.5 percent of total gross gaming revenue. The increasing digitization of gambling offerings is attracting new audiences and expanding reach.
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Pagcor Increases Revenue and Contributions to the State
Pagcor itself generated revenues of PHP 111.71 billion in 2024 – an increase of 40.74 percent over the previous year. Net profit rose by 146 percent to PHP 16.76 billion. A total of PHP 76.66 billion was remitted to the government, with PHP 68.20 billion going directly to national programs. This marks an increase of 37.61 percent.
Positive Impact on Employment and Investment
Tengco sees a clear multiplier effect in the industry’s development: more jobs, increased investment, and additional funding for public projects. The gambling industry in the Philippines is not only a growing economic sector but also carries social responsibility.
Our Assessment
The numbers clearly show: licensed casinos in the Philippines are a central pillar of public financing. The strong growth in the electronic gaming sector in particular highlights the industry’s transformation. This presents new opportunities for investors, operators, and players alike. The development in rural regions such as the Greenfield Zone also demonstrates that growth is not confined to urban centres. Anyone looking to understand the dynamics of the Asian gambling market should keep a close eye on the Philippines.
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