The Philippine gaming industry has seen increased gross gaming revenues (GGR) in the first half of the year, as it reached PHP 214.75 billion ($3,729,075,509) which marks a 26% increase from the same period last year.
One of the strongest segments was the Electronic Games sector which comprises e-games, e-bingo, and more. According to the Philippine Amusement and Gaming Corporation (PAGCOR), this sector totaled 53.47% of the total GGR.
Licensed casinos, including integrated resorts and brick-and-mortar casinos in Metro Manila, Clark, Cebu, La Union, and Rizal, also remained to be a significant revenue driver.
The licensed casino category accounted for 43.47% of the industry GGR. Meanwhile, PAGCOR-operated casinos added PHP 6.56 billion, representing 3.06% of the overall industry performance.
Philippine PAGCOR reiterates need to maintain ‘regulatory equilibrium’
Despite the rise in figures, the CEO of PAGCOR, Alejandro H Tengco, has emphasized the need to maintain regulatory equilibrium as the industry continues to evolve.
“PAGCOR recognizes the earning potential of the E-Games sector, but as the country’s gaming regulator, our foremost responsibility is to ensure that growth comes with accountability,” Tengco said.
“Our role goes beyond revenue generation; and as partners of the government in nation-building, we are committed to always strike a balance between enabling industry expansion and ensuring it aligns with responsible gaming standards,” he added.
The state gaming agency recently signed a memorandum of understanding with the Ads Standards Council (ASC), with the aim of strengthening the monitoring of gambling-related advertisements across all platforms.
This comes after it recently ordered the takedown of all gambling ads in public spaces and on primetime TV by August 15 this year.
“These efforts are part of our broader mission to ensure that online gambling is not only well-regulated but also aligned with public interest,” Tengco added.
In the press release sharing the most recent figures, PAGCOR says it reaffirms its focus on sustaining reforms that promote transparency, industry compliance, and inclusive national development.
Featured Image: AI-generated via Ideogram
The post Philippine gaming industry figures are in, with e-games being 53% of total GGR appeared first on ReadWrite.