Philippines' gaming revenue poised for record growth in 2025, says PAGCOR chairman

The Philippine gaming industry is expected to experience another year of record-breaking revenue in 2025, with Gross Gaming Revenue (GGR) projected to rise by 17%, reaching between PHP450 billion and PHP480 billion ($7.8 billion to $8.3 billion), according to PAGCOR Chairman Alejandro Tengco.

The Philippine Amusement and Gaming Corporation (PAGCOR) reported that the industry’s GGR surged 25% in 2024 to PHP410.5 billion, marking a historic high. The momentum appears to be continuing, with January 2025 GGR reaching PHP40 billion, up from PHP28.5 billion in the same period last year.

A significant driver of this growth is the expansion of electronic gaming, which is poised to make an even larger contribution in 2025. PAGCOR estimates that e-Games revenue will climb to PHP160 billion this year, up from PHP135.7 billion in 2024, which had already seen a staggering 309.2% year-over-year surge.

“The growth in GGR will come from e-Games, and I believe the trend in January and February will continue,” said Tengco. He also noted that e-Games revenue could match land-based casino revenue within the next two to three years. 

While land-based casinos are expected to see moderate growth, their contribution is unlikely to match that of digital gaming, Tengco added.

In a move to support online and on-site gaming expansion, PAGCOR lowered remittance rates for betting platforms from 35% to 30% in January 2025.

However, the industry faces headwinds, including the shutdown of offshore gambling operators following a government directive. Despite this, officials believe the rise of electronic gaming will offset potential losses.

The Philippines is now the second-largest gaming market in Asia, surpassing Singapore and trailing only Macau. However, regional competition remains fierce. Tengco warned that if Thailand legalizes casino gaming, it could pose a significant challenge due to its strong tourism appeal.

“Thailand’s casino legalization is a big threat to the Philippine gaming sector,” Tengco said. The Thai government is currently reviewing an Entertainment Complex Bill that could pave the way for legal gambling operations, potentially drawing high-spending tourists and investors away from the Philippines.