{"id":7540,"date":"2024-07-15T07:38:43","date_gmt":"2024-07-15T07:38:43","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/07\/15\/philippine-gaming-sector-sees-significant-growth-in-2024\/"},"modified":"2024-07-15T07:38:43","modified_gmt":"2024-07-15T07:38:43","slug":"philippine-gaming-sector-sees-significant-growth-in-2024","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/07\/15\/philippine-gaming-sector-sees-significant-growth-in-2024\/","title":{"rendered":"Philippine Gaming Sector Sees Significant Growth in 2024"},"content":{"rendered":"<div>\n<p>The Philippine gaming sector, including both casino and non-casino operations, achieved gross gaming revenue (GGR) of PHP194.74 billion (US$3.34 billion) in the first half of 2024, marking a 19.21% increase from the same period last year. This information was shared in a press release by the state-run Philippine Amusement and Gaming Corp (Pagcor) on Sunday.<\/p>\n<p>Pagcor reported a substantial rise in net income to PHP6.56 billion for the six months ending June 30, reflecting a 121.48% growth year-on-year. According to Pagcor chairman and CEO Alejandro Tengco, these results demonstrate the positive impact of reforms and enhanced regulations implemented by the agency.<\/p>\n<p><em>\u201cPagcor\u2019s robust net income growth translates\u2026 to a larger contribution to nation building,\u201d<\/em> Tengco stated. He noted that the agency <a href=\"https:\/\/igaming.org\/casino-news\/pagcor-increases-may-remittance-to-php3-27-billion\/\">remitted<\/a> PHP31.82 billion to the Treasury in the first half of the year, up from PHP22.62 billion in the same period in 2023.<\/p>\n<h2>Breakdown of Revenue Contributions<\/h2>\n<p>Pagcor\u2019s total gross revenues for the first half of 2024 reached PHP51.76 billion, a 42.92% increase from last year. Gaming operations were the primary revenue source, contributing PHP45.39 billion. Of this, electronically-delivered gaming sectors, such as e-Bingo, e-Games, and bingo grantees, generated 45.53% or PHP20.66 billion.<\/p>\n<p>Licensed commercial-sector casinos also played a significant role, contributing PHP16.06 billion, which accounted for 35.44% of Pagcor\u2019s first-half revenues. The publicly-owned Casino Filipino chain of gaming venues added PHP6.93 billion, making up 15.27% of the total.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Tengco expressed optimism about meeting or exceeding the PHP100 billion annual gross revenue target for 2024. He highlighted the remarkable revenue growth in the e-Games sector and noted the increasing interest from players and investors in the Philippine market.<\/p>\n<p><em>\u201cGiven 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,\u201d<\/em> he said.<\/p>\n<p>In early June, Tengco announced plans to further reduce rates for operators of electronic-delivered games starting in January next year. He emphasized that licensed casinos were the \u201cbiggest contributors\u201d to GGR, generating PHP99.16 billion in the first half of 2024.<\/p>\n<p>However, the e-Games sector showed the highest growth, with revenues soaring by 208.4% to PHP63.01 billion. This surge highlights the sector\u2019s strong domestic-driven performance. Meanwhile, Pagcor-operated casinos recorded PHP8.89 billion in GGR, an 11.60% decline from the previous year.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Pagcor anticipates the nation\u2019s gaming industry will generate PHP336.38 billion in GGR for 2024, a 17.9% increase from 2023. The first-half performance represented 57.89% of this annual target, showcasing the sector\u2019s promising trajectory.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/philippine-gaming-sector-sees-significant-growth-in-2024\/\">Philippine Gaming Sector Sees Significant Growth in 2024<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Philippine gaming sector, including both casino and non-casino operations, achieved gross gaming revenue (GGR) of PHP194.74 billion (US$3.34 billion) in the first half of 2024, marking a 19.21% increase from the same period last year. This information was shared in a press release by the state-run Philippine Amusement and Gaming Corp (Pagcor) on Sunday. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-7540","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=7540"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7540\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=7540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=7540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=7540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}