Gambling Industry Growth in the Philippines Fueled by E-Gaming

The Philippine Amusement and Gaming Corporation (PAGCOR) has recently shared a comprehensive report on the gambling industry’s performance in the third quarter. This period marked significant growth in gross gaming revenue (GGR), driven largely by advancements in the e-gaming sector, as outlined by PAGCOR.

Philippines Gaming Industry

The Philippine gaming industry has experienced substantial growth and evolution over the past decades, fueled by a mix of traditional land-based casinos, online gaming platforms, and e-gaming offerings. Regulated by the Philippine Amusement and Gaming Corporation (PAGCOR), the industry plays a significant role in the country’s economy, providing a source of government revenue and creating numerous employment opportunities. The sector includes luxurious integrated resorts, regional casinos, and other gaming establishments spread across various parts of the Philippines, primarily in Manila’s Entertainment City and Clark. These facilities attract domestic and international tourists, bolstering the tourism and hospitality sectors. The government strictly regulates the industry to curb illegal gambling operations while leveraging revenue for public welfare initiatives.

E-gaming, or electronic gaming, is a rapidly expanding segment within the Philippine gaming landscape. This sector encompasses online gambling platforms, including electronic casino games, sports betting, and virtual betting operations, often offered by Philippine Offshore Gaming Operators (POGOs). E-gaming has gained prominence due to advancements in digital technology and growing internet penetration across the country. With the rise of mobile gaming and online platforms, many Filipinos have access to various e-gaming experiences, such as poker, slots, and live dealer games. This growth has led to regulatory challenges and opportunities, as the government seeks to balance consumer protection, responsible gaming, and market expansion while combating illegal e-gaming operators and ensuring that taxes and licensing fees benefit the country’s economy.

E-Gaming’s Impressive Surge Balances Casino & Bingo Declines

PAGCOR’s data showed a notable 37.5% increase in the Philippines’ gross gaming revenue, which reached PHP 94.61 billion ($1.61 billion) during Q3, compared to PHP 68.79 billion recorded during the same period last year. This substantial growth was largely fueled by the booming electronic gaming segment, which saw a striking 464.4% year-on-year increase. E-gaming’s GGR surged to PHP 35.71 billion ($610 million) from PHP 6.32 billion in Q3 2023.

Despite this impressive surge in e-gaming, licensed casinos remained the dominant source of gaming revenue, contributing PHP 50.72 billion ($860 million) to the overall GGR. However, this figure reflects a slight 2.3% decrease compared to the PHP 51.9 billion recorded in the same quarter last year.

Meanwhile, PAGCOR’s Casino Filipino establishments generated PHP 3.64 billion ($62 million) in GGR, reflecting a notable 26.3% decline from PHP 4.94 billion reported in Q3 of the previous year. Additionally, bingo operations contributed PHP 4.52 billion ($77 million) to the total GGR, marking a 19.4% drop year-on-year, compared to PHP 5.61 billion generated in Q3 2023.

The overall performance report emphasizes that the notable downturns in specific segments, such as casinos and bingo operations, were effectively counterbalanced by the extraordinary growth in the e-gaming sector.

Optimism from PAGCOR’s Tengco

Alejandro H. Tengco, the chairman and CEO of PAGCOR, expressed his enthusiasm about the quarter’s results, emphasizing the remarkable expansion seen in the e-gaming sector. According to Tengco, this impressive performance highlights the sector’s effective use of modern technology and mobile devices.

Tengco remains confident that technology will continue to play a central role in driving the gaming industry’s future growth, both within the Philippines and globally. He foresees continued success for the electronic gaming sector, supported by rapid technological advancements and their increasing role in daily life.

Tengco added further insights, projecting that the sector could generate up to PHP 78 billion in license fees by year-end, contributing significantly towards PAGCOR’s ambitious goal of achieving PHP 100 billion in revenue for 2024.

Major Operators in E-Gaming

In the Philippines, najor operators such as DFNN, BetConstruct, and Megasportsworld are central to shaping the landscape. DFNN, known for its interactive gaming terminals and online gaming solutions, caters to a broad audience by offering games like poker, bingo, and virtual sports betting. BetConstruct, a well-regarded global gaming technology provider, offers a variety of digital gaming content tailored to Filipino players, including casino games, slots, and sportsbook platforms. Megasportsworld focuses on sports betting, covering major sporting events such as basketball, boxing, and international football leagues. Key offerings in the e-gaming space include live dealer games, which replicate the experience of traditional casinos through real-time streaming, and online slots with diverse themes and mechanics, ensuring player engagement and variety.

In the broader Asian region, countries like Cambodia, Vietnam, and Malaysia have their own prominent e-gaming operators. NagaWorld in Cambodia, for instance, operates both physical and digital gaming services, with online offerings that extend beyond its land-based casino. In Malaysia, operators such as GentingBet and 12BET provide online casinos and sports betting options, catering to local and international audiences. Vietnam’s market, while tightly regulated, has notable platforms offering lotteries, sports betting, and online card games. These operators typically focus on slots, table games, and virtual sports, reflecting the varied preferences of their player bases and underscoring the diversity and competitiveness of e-gaming in Asia.

Government Actions on Offshore Operators

In a related development, as we recently reported, on November 5, 2024, President Ferdinand R. Marcos Jr. signed Executive Order (EO) No. 74, instituting an immediate ban on Philippine Offshore Gaming Operators (POGOs), internet gaming licensees (IGLs), and other offshore gaming activities within the Philippines. This decisive action followed President Marcos’s pronouncement during his State of the Nation Address in July 2024, where he highlighted the adverse impacts of offshore gaming on national security and public order. The EO mandates the cessation of all POGO and IGL operations by December 31, 2024, and prohibits the issuance or renewal of related licenses and permits. To ensure effective implementation, the order established two Technical Working Groups: one focused on employment recovery and reintegration for displaced workers, and another dedicated to intensifying the crackdown on illegal offshore gaming operations.

The enactment of EO 74 carries significant consequences for the Philippine gaming industry and the broader economy. While the government anticipates a reduction in crime rates and social instability associated with offshore gaming, the ban also poses challenges, particularly concerning the displacement of Filipino workers employed in the POGO sector. The Technical Working Group on Employment Recovery and Reintegration, chaired by the Philippine Amusement and Gaming Corporation (PAGCOR), is tasked with developing strategies to support these workers through upskilling and reskilling programs, facilitating their transition to alternative employment opportunities. Additionally, the comprehensive ban aims to enhance the country’s international reputation by addressing concerns related to money laundering and other illicit activities linked to offshore gaming operations.

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