PAGCOR chairman and CEO Alejandro H. Tengco delivers his keynote address during this year’s ASEAN Gaming Summit which will run until March 19 at the Shangri-La The Fort, Bonifacio Global City.
The Philippine gaming industry remains strong despite the ban on Philippine Offshore Gaming Operations (POGOs), according to Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco.
Speaking at the ASEAN Gaming Summit in Manila, Tengco highlighted the sector’s resilience, revealing that the country’s Gross Gaming Revenue (GGR) in 2024 soared to P410 billion—a remarkable 25% increase from the P329 billion recorded in 2023.
“As offshore gaming exits, PAGCOR recognizes that the future of Philippine gaming will be increasingly technology-driven,” Tengco stated. “This is why we are committed to closely regulating electronic gaming while maintaining strict oversight to combat illegal operators.”
E-games and E-bingo lead industry growth
Tengco noted that while traditional brick-and-mortar casinos generated P201 billion—nearly half of the 2024 GGR—electronic gaming saw an unprecedented rise. The E-Games and E-Bingo sector recorded P154.51 billion in revenue, marking a staggering 165% year-on-year growth.
He attributed this surge to strategic policy changes, including the gradual reduction of fee rates for E-Games since 2023.
“At that time, PAGCOR was collecting between 50% to 55% in license fees, which hindered expansion,” Tengco explained. “However, effective January 1, 2025, we reduced the fee rate to just 30% of GGR, encouraging more operators to enter the regulated market.”
This adjustment led to a significant boost in compliance, with unregistered operators joining the regulated system while existing licensees remained profitable. The E-Games sector met its 2024 GGR target of P100 billion as early as September last year.
Commitment to responsible gaming
Tengco also emphasized PAGCOR’s commitment to responsible gaming, ensuring that ethical and sustainable practices accompany industry growth.
“We want to assure our stakeholders that as we pursue greater success, responsible gaming and market integrity will always be at the core of our efforts,” he affirmed.
Optimism for future growth
Looking ahead, Tengco expressed confidence in the industry’s trajectory. “The best days of Philippine gaming are still ahead of us, and we look forward to working with all of you to shape what comes next.”
The ASEAN Gaming Summit, hosted by Asia Gaming Brief, continues to be a key forum for industry leaders to explore trends, address challenges, and seize new opportunities in the region’s evolving gaming landscape.