Online gaming 'brought their A-games' in the second quarter of the year, fueling the Philippine Amusement and Gaming Corporation' (PAGCOR) gross gaming revenues (GGR), reaching P89.23 billion, 32.32% higher than the P7.43 billion GGR in the same period last year.
The second quarter GGR is also 9.21% higher than the first quarter industry revenue of P81.70 billion.
"The E-Games sector recorded an impressive 525% increase from the P4.93 billion record year-on-year," PAGCOR chairman and CEO Alejandro H. Tengco 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."
He added the electronic games (E-Games) sector, which brought in P30.85 billion, is still the local gaming industry's best performer in terms of growth.
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 earned P49.48 billion during the period under review, remained the most significant contributor to the second quarter GGR. However, this was lower than last year's record of P51.70 billion and the previous quarter's P49.68 billion.
PAGCOR-operated casinos under the Casino Filipino brand brought in P4.20 billion, 14.80% lower than the 2023 record of P4.93 and 10.41% lower than last quarter's P4.69 billion.
Bingo operations contributed P4.69 billion to the GGR, which was also lower than the 2023 second-quarter revenue of P5.85 billion and the first quarter's take of P4.81 billion.
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