{"id":8345,"date":"2024-12-11T05:39:00","date_gmt":"2024-12-11T05:39:00","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/12\/11\/philippine-gaming-revenue-set-to-break-records-in-2024\/"},"modified":"2024-12-11T05:39:00","modified_gmt":"2024-12-11T05:39:00","slug":"philippine-gaming-revenue-set-to-break-records-in-2024","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/12\/11\/philippine-gaming-revenue-set-to-break-records-in-2024\/","title":{"rendered":"Philippine Gaming Revenue Set to Break Records in 2024"},"content":{"rendered":"<div>\n<p>With gross gaming revenue (GGR) predicted to reach $6 billion in 2024, the Philippine gaming sector is set for a historic year. Alejandro Tengco, chairman of the Philippine Amusement and Gaming Corporation (Pagcor), offered this forecast, which emphasizes the nation\u2019s impressive gaming record.<\/p>\n<p>According to Tengco, the GGR for the year is expected to surpass PHP350 billion, or around $6.03 billion, which is more than the PHP336.38 billion that was predicted in January. Compared to the PHP285.27 billion reported in 2023, which had set the previous year record, this expected figure represents a notable 23% rise.<\/p>\n<p>Driving this remarkable growth is the electronic gaming sector, which continues to attract substantial interest and investments. \u201cOur GGR for the year, I think it\u2019s over PHP350 billion,\u201d Tengco confidently stated, underscoring the sector\u2019s contribution to this upward trend.<\/p>\n<h2>Boost in Revenue and Key Policy Shifts<\/h2>\n<p>Pagcor\u2019s financial performance extends beyond GGR. Tengco indicated the agency\u2019s net income could almost double, reaching between PHP12 billion and PHP15 billion by year-end. This would be a sharp rise from the nearly PHP6.82 billion recorded in 2023, which already marked a 53.3% year-on-year increase. As of October 2024, Pagcor reported a net income of PHP9.63 billion for the first nine months, up 98.1% from the same period in 2023.<\/p>\n<p>Amid this financial success, Pagcor has also moved to comply with President Ferdinand Marcos Jr.\u2019s executive order banning offshore online gambling. This directive, issued in July, mandates the cessation of all offshore gaming operations, including existing licenses, new applications, and renewals, by the end of 2024.<\/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\"><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\">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\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The combination of <a href=\"https:\/\/igaming.org\/casino-news\/philippine-gaming-industry-eyes-record-high-revenues-in-2024\/\">record-breaking revenues<\/a> and significant regulatory changes marks a transformative year for the Philippine gaming industry. As Pagcor navigates these shifts, the agency continues to demonstrate its ability to drive growth while aligning with national policy objectives.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/philippine-gaming-revenue-set-to-break-records-in-2024\/\">Philippine Gaming Revenue Set to Break Records in 2024<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With gross gaming revenue (GGR) predicted to reach $6 billion in 2024, the Philippine gaming sector is set for a historic year. Alejandro Tengco, chairman of the Philippine Amusement and Gaming Corporation (Pagcor), offered this forecast, which emphasizes the nation\u2019s impressive gaming record. According to Tengco, the GGR for the year is expected to surpass [&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-8345","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\/8345","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=8345"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8345\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}