Gaming revenues up 27% to P104 billion in Q1

MANILA, Philippines — E-games overtake casinos for first time For the first time, the electronic games (e-games) sector has overtaken licensed casinos in terms of earnings with the gross gaming revenue (GGR) of the local gambling industry hitting a record P104 billion in the first quarter.

Data from state-run Philippine Amusement and Gaming Corp. (PAGCOR) showed that the industry’s GGR jumped by 27.4 percent to P104.12 billion from January to March   compared to last year’s P81.7 billion.

The first quarter outturn showed that electronic gaming is now the top revenue driver as the e-games and e-bingo segments contributed P51.39 billion or 49.36 percent share to the total gaming revenue.

E-games have effectively overtaken licensed casinos, which dominated the GGR landscape for the longest time, as the latter generated P49.28 billion for a 47-percent share to the total.

PAGCOR chairman and CEO Alejandro Tengco said this represents how consumer behavior continues to shift toward digital and on-demand gaming experiences, boosted by greater access to mobile technology.

Tengco said the rise of e-games has reshaped the local gaming landscape.

“As digital platforms take center stage, the Philippine gaming industry is undergoing a paradigm shift. Our goal as a regulator is to strike the right balance between innovation, player protection and long-term industry sustainability,” Tengco said.

Revenues from licensed casinos registered a slight decline of one percent amid growing digital competition, but Tengco said the sector remains relevant.

He added that brick-and-mortar casinos are still critical to industry stability, particularly in tourism-driven hubs such as Entertainment City and Clark.

Meanwhile, PAGCOR-operated casinos generated P3.45 billion in revenues, making up the remaining 3.31 percent of the GGR.