In 2023, online gaming activity soared by more than 90% compared to the previous year, driven by policy reforms implemented by the current PAGCOR leadership, according to Chairman and CEO Alejandro H. Tengco.
The E-Gaming sector—which includes e-games, e-bingo, specialty games, and sports betting—generated Php58.16 billion in gross gaming revenues (GGR) for the year. This marked a 92.32% increase from its Php30.24 billion contribution in 2022 and broke the previous record of Php32.24 billion set in 2019, before the pandemic.
The ICE London 2024 Conference, known globally as the hub for B2B gaming industry professionals, offered a prime venue for leaders to showcase achievements, share initiatives, and outline future strategies. Originally launched as the “International Casinos Exhibition,” ICE continues to lead the way in industry innovation, collaboration, and networking.
Chairman Tengco reported a major milestone for PAGCOR in 2023, with over 1,000 licensed E-Gaming sites now in operation and more applications under review. He credited this growth to recent policy reforms, including reduced licensing rates, which attracted more operators and accelerated approvals.
He also highlighted how the exceptional performance of the E-Games sector strengthened not just the broader gaming industry, but also PAGCOR’s revenue generation efforts.
PAGCOR plans to sustain this momentum through further policy adjustments and greater integration of technology in gaming. These changes are projected to push E-Games revenues to Php61.75 billion in 2024, fueling the continued expansion of the local gaming industry.
Chairman Tengco expressed optimism about the sector’s future. He emphasized that regulated online gaming markets promote stronger trust between operators and players, ensure proper tax contributions, and help fund critical government projects.
