THE Philippine Amusement and Gaming Corp. (PAGCOR) said it expects to generate up to P480 billion in gross gaming revenue (GGR) this year, led by the growing electronic games segment.
In a briefing on Wednesday, PAGCOR Chairman and Chief Executive Officer Alejandro H. Tengco said GGR could range from P450 billion to P480 billion in 2025.
“I believe it will come from e-gaming and the trend in January and February will continue, land-based (operations) will grow, though not as significantly,” Mr. Tengco said on Wednesday.
Mr. Tengco said the full-year target is based on the estimated P40 billion GGR generated in January, up from P28.5 billion a year earlier.
Citing preliminary data, PAGCOR said if the full-year target is met, GGR would be 16.94% higher than the record P410.48 billion in 2024.
These GGR levels suggest that the Philippines is generating the second-largest gaming revenue in Asia after Macau, and exceeding that of Singapore, PAGCOR said.
In 2024, the integrated resorts (IR) segment was the largest contributor to GGR, accounting for 49%, followed by e-games (38%), the now-banned Philippine Offshore Gaming Operators (9.21%), and PAGCOR-owned casinos (3.9%).
In 2025, Mr. Tengco expects the IR segment to account for 50% of GGR, with the share of e-games expected to account for 45% and PAGCOR casinos 5%, as the share of POGOs falls to 0%.
During his State of the Nation Address in July, President Ferdinand R. Marcos, Jr. ordered that all POGOs be shuttered by end-2024.
“We will continue to accept unregistered e-games operators to register, so that is where growth will come from. The IRs are gaining momentum again, especially the one in Quezon City,” he said.
E-game registration will be made more attractive by reduced rates, he said.
PAGCOR further reduced the rates it charges e-games operators to 30% from 35% starting Jan. 1, calling on unregistered entities to become legitimate operators.
It estimates gross revenue for 2025 at P125 billion, powered by the performance of Solaire Resort North in Quezon City.
In 2024, PAGCOR revenue rose 41% to a record P112 billion.
“There are new (IR) licensees opening in Cebu and Boracay. So I see an increase and then in e-gaming as well,” Mr. Tengco said, adding that he expects e-games to equal the performance of physical casinos “maybe in the next two or three years .”
Mr. Tengco said the regulator’s divestment from the 41 casinos it owns is expected to begin by 2026. — Aubrey Rose A. Inosante