The country’s gross gaming revenues (GGR) in the second quarter posted a double-digit growth of 32.32 percent year-on-year, the Philippine Amusement and Gaming Corp. (Pagcor) reported yesterday.
In a statement, Pagcor said GGR stood at P89.23 billion, up from the P67.43 billion GGR in the same period last year.
It is also 9.21 percent higher than the first quarter industry revenue of P81.7 billion.
Alejandro Tengco, Pagcor chairman and chief executive office,r said the electronic games (E-Games) sector, which brought in P30.85 billion, is still the local gaming industry’s best performer in terms of growth.
“The E-Games sector recorded an impressive 525 percent increase from the P4.93 billion record year-on-year,” he said.
“This sector continues to surpass targets and should help cover up for any shortfall resulting from the President’s order banning offshore gaming operations or POGOs by the end of the year,” Tengco added.
The country’s licensed casinos which brought in P49.48 billion during the period in review, remained the biggest contributor to the second quarter GGR although it was lower compared to last year’s P51.7 billion record and from last quarter’s P49.68 billion.
Pagcor-operated casinos under the Casino Filipino brand brought in P4.2 billion, 14.8 percent lower than the 2023 record of P4.93 and 10.41 percent lower compared to last quarter’s P4.69 billion.
Bingo operations contributed P4.69 billion to the GGR, also lower than the 2023 second quarter revenue of P5.85 billion and the first quarter’s take of P4.81 billion.
