The Gross Gaming Revenue (GGR) of licensed casinos in the Philippines fell by 4.3%, to 49.48 billion Philippine pesos ($864 million). This follows the first quarter's GGR of 49.68 billion Philippine pesos ($867 million). Despite the declining revenue from traditional casinos, the overall gaming industry in the Philippines still achieved strong growth, thanks to the booming electronic gaming sector.
Electronic Gaming: Outstanding Performance
Driven by Alejandro H. Tengco, Chairman and CEO of PAGCOR, the electronic gaming industry achieved significant growth, with revenues reaching 30.85 billion Philippine pesos ($539 million). Compared to last year's 4.93 billion Philippine pesos ($86.1 million), this represents a staggering increase of 525%. According to Inside Asian Gaming, Tengco stated: "The industry continues to exceed targets, which should help offset the shortfall caused by the presidential order to ban offshore gaming operations or POGOs." He emphasized the strategic importance of electronic gaming in the local gambling market.
Revenue for PAGCOR-operated Casino Filipino brand saw a decline, with second-quarter revenue at 4.2 billion Philippine pesos ($73.3 million), down 14.8% from 2023. Similarly, bingo game revenues fell to 4.69 billion Philippine pesos ($81.9 million), also below last year's second-quarter revenue of 5.85 billion Philippine pesos ($102 million).
