Philippines gambling revenues to rise 17% by 2025
Friday 28 de February 2025 / 12:00
2 minutos de lectura
(Manila) - The Philippines expects gambling industry revenues to rise another 17 per cent by 2025, a record high in 2024, driven by growth in electronic gaming and integrated resorts, according to statements by the country's gaming regulator chief.
Philippine Amusement and Gaming Corp (Pagcor) Chairman Alejandro Tengco told reporters that gross gaming revenues could range between 450 billion Philippine pesos and 480 billion Philippine pesos ($7.8 billion to $8.3 billion) this year.
That compares with 410.5 billion pesos in 2024, an increase of 25% from the previous year. Gross gaming revenues reflect the total amount wagered by players minus their winnings.
A boost in gaming revenues could bolster the Philippine government's public finances as Pagcor is obliged to transfer the majority of its earnings to the national treasury.
Electronic gaming could also offset losses from offshore gambling operators after President Ferdinand Marcos Jr. ordered them to wind down operations at the end of 2024, Tengco said.
The online gambling industry emerged in the Philippines in 2016, and expanded rapidly as operators leveraged the country's liberal gambling laws to target Chinese customers. Gambling is illegal in China.
($1 = 57.8860 Philippine pesos)
by Mikhail Flores
Categoría:Online Games
Tags: Sin tags
País: Philippines
Región: Asia
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