The Philippine Amusement and Gaming Corporation (PAGCOR) recently announced its financial report for 2024, with annual revenues reaching a historic high of 112 billion pesos, a 41% increase from the previous year. This breakthrough achievement highlights the strong performance of electronic gaming (e-games) and electronic bingo (e-bingo).
Data shows that electronic gaming and electronic bingo together contributed 487.9 billion pesos, accounting for over 50% of the total gaming revenue, becoming the main driving force of the industry.
Meanwhile, licensed casinos generated 330.7 billion pesos in revenue, while PAGCOR's own Casino Filipino contributed 126.7 billion pesos.
Although the Philippine government has decided to terminate the offshore gaming (POGO) business by December 2024, the industry still brought in 2.99 billion pesos in revenue before ceasing operations.
PAGCOR stated that the increase in revenue has allowed it to provide more financial support to the government. In 2024, a total of 46.32 billion pesos was paid to the national treasury, an increase of 33.39% from last year.
In addition, PAGCOR also allocated 2.31 billion pesos to the Philippine Sports Commission (PSC) and 91.88 million pesos to support athletes participating in international competitions, including representatives for the 2024 Paris Olympics and Paralympics.
PAGCOR Chairman Alejandro Tengco emphasized that the future will continue to deepen the electronic gaming business and optimize capital management to help national development. "PAGCOR is not just a gaming agency, but also a significant driver of economic growth in the Philippines," he said.
