{"id":8200,"date":"2024-11-14T10:57:34","date_gmt":"2024-11-14T10:57:34","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/11\/14\/pagcor-reports-strong-growth-in-philippines-gaming-revenue-for-q3\/"},"modified":"2024-11-14T10:57:34","modified_gmt":"2024-11-14T10:57:34","slug":"pagcor-reports-strong-growth-in-philippines-gaming-revenue-for-q3","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/11\/14\/pagcor-reports-strong-growth-in-philippines-gaming-revenue-for-q3\/","title":{"rendered":"PAGCOR Reports Strong Growth in Philippines Gaming Revenue for Q3"},"content":{"rendered":"
\n

According to the third-quarter data from the Philippine Amusement and Gaming Corporation (PAGCOR), gross gaming revenue (GGR) increased by a noteworthy 37.52% to Php94.61 billion from Php68.79 billion during the same period the previous year. The burgeoning electronic gaming industry, which saw impressive growth over the previous year\u2019s numbers, was the main driver of this spike.<\/p>\n

Electronic Gaming Sector Leads Growth<\/strong><\/h2>\n

The electronic gaming sector emerged as the standout performer, driving much of PAGCOR\u2019s Q3 growth. This sector posted an impressive Php35.71 billion in revenue, a dramatic increase from last year\u2019s Php6.32 billion, marking a 464.38% year-on-year growth. PAGCOR Chairman and CEO Alejandro H. Tengco<\/a> highlighted the significance of this performance, stating, \u201cThe Electronic Gaming sector recorded a phenomenal increase\u2026 [indicating] that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming.\u201d<\/em><\/p>\n

Chairman Tengco further expressed optimism for the sector\u2019s continued expansion, especially as technology integrates more deeply into daily life, including shopping, entertainment, and gaming. He projected that by the end of 2024, the E-Games sector alone could generate up to Php78 billion in license fees, making substantial progress toward PAGCOR\u2019s Php100 billion revenue target.<\/p>\n

Despite the strong overall growth, traditional gaming avenues showed mixed results. Licensed casinos, which remain the largest contributor to GGR, generated Php50.72 billion, a slight 2.27% decline from last year\u2019s Php51.90 billion. Meanwhile, Casino Filipino venues, directly operated by PAGCOR, saw revenues dip by 26.32%, contributing Php3.64 billion this quarter compared to Php4.94 billion in 2023.<\/p>\n

Bingo operations also declined, contributing Php4.52 billion in revenue, down 19.43% from the previous year\u2019s Php5.61 billion in the same period. These decreases reflect shifting gaming preferences, with electronic gaming rising as a dominant force in the industry.<\/p>\n

\n
\n
\n
\n