Philippines Gaming Sector Hits $1.61 Billion In Third Quarter
Philippines Gaming Sector Hits $1.61 Billion In Third Quarter
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Philippines has reached a milestone, with the gross gaming revenue (GGR) for the third quarter of 2024 rising to US$1.61 billion. The figure represents an increase of 38% compared to the previous year.
The Philippine gaming sector encompasses a diverse range of operations, including casinos, electronic gaming, and non-casino gaming activities. The industry is regulated by the Philippine Amusement and Gaming Corporation (Pagcor), which oversees and licenses gaming establishments across the nation.
Breakdown of 3Q GGR Performance
The third quarter of 2024 marked a record for the Philippine gaming sector, with GGR reaching PHP94.61 billion (approximately US$1.61 billion). This figure reflects a 37.5% increase from the same period last year and a 6.0% rise from the previous quarter.
Key Contributors to GGR
Sequential Growth Analysis
When comparing the third quarter’s performance to the preceding quarter, the gaming sector demonstrated resilience:
Pagcor has set ambitious targets for the gaming sector, aiming for a GGR of PHP336.38 billion for the year. This represents a 17.9% increase compared to 2023.
