Online gambling such as e-Bingo, and bingo grantees now contribute nearly half of the state-run Philippine Amusement and Gaming Corp.’s (Pagcor) revenues, overtaking those from large integrated resorts.
New data from Pagcor showed the online gaming sector accounted for 45.53 percent or P20.66 billion in gaming revenue during the first semester of 2024. These eclipsed contributions of integrated resorts, which contributed P16.06 billion, followed by P6.93 billion coming from Pagcor’s Casino Filipino brand.
Pogo's the stone in the shoe, this week they continue to pressure them to turn off.
Online gaming not just a trend
“Given the phenomenal revenue increase in the e-games sector, and with more players and investors signifying their intent to enter the Philippine market, we are confident that the year 2024 will be truly a banner year for Pagcor,” Chair and CEO Al Tengco said in a statement.
Pagcor’s said its net income for during the first half surged to P6.56 billion, more than double earnings during the same period last year.
Remittances soar
The Philippine gaming industry’s gross gaming revenue also climbed 19.21 percent toP194.743 billion during the first semester. “Pagcor’s robust net income growth translates of course to a larger contribution to nation-building,” he said. “We were able to remit P31.82 billion…to the treasury in the first six months compared to P22.62 billion in the same period last year.”
