The Philippine Amusement and Gaming Corporation (PAGCOR) announced today that the country’s Gross Gaming Revenues (GGR) for the second quarter reached Php89.23 billion, which is 32.32% higher than the Php67.43 billion GGR in the same period last year.
The second quarter GGR is also 9.21% higher than the first quarter industry revenue of Php81.70 billion.
PAGCOR Chairman and CEO Alejandro H. Tengco said the Electronic Games (E-Games) sector, which brought in Php30.85 billion, is still the local gaming industry’s best performer in terms of growth.
“The E-Games sector recorded an impressive 525% increase from the Php4.93 billion record year-on-year,” he said. “This sector continues to surpass targets and should help cover up for any shortfall resulting from the President’s order banning offshore gaming operations or POGOs by the end of the year.”
Mr. Tengco also attributes the remarkable performance of the E-Games sector to the crucial policy reforms implemented by PAGCOR in the last year.
The country’s licensed casinos which brought in Php49.48 billion during the period in review, remained the biggest contributor to the second quarter GGR although it was lower compared to last year’s Php51.70 billion record and from last quarter’s Php49.68 billion.
PAGCOR-operated casinos under the Casino Filipino brand brought in Php4.20 billion, 14.80% lower than the 2023 record of Php4.93 and 10.41% lower compared to last quarter’s P4.69 billion.
Bingo operations contributed Php4.69 billion to the GGR, also lower than the 2023 second quarter revenue of Php5.85 billion and the first quarter’s take of Php4.81 billion. #
The post PH Q2 GROSS GAMING REVENUES UP 32.32% TO PHP89.23 BILLION appeared first on European Gaming Industry News.