Philippines: E-gaming industry growth nearly doubles in 2023
⏱ 1 min read
(Manila).- Speaking during a panel interview at the ICE London 2024 Conference in London last February 6, PAGCOR Chairman and CEO, Alejandro Tengco said: “there was a phenomenal rise of over 90% in online gaming activities in 2023 compared to the previous year.” The E-Gaming sector – which includes e-games, e-bingo, specialty games and sports betting – contributed USD 1,04 million to the country’s gross gaming revenues (GGR) in 2023.
The Philippine Electronic Gaming sector had a banner year in 2023 with revenues nearly doubling year on year due to policy reforms, according to Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro Tengco.
The E-Games contribution to 2023 GGR is also a new record, surpassing the previous high of USD 58 million posted in 2019 before the pandemic outbreak.
The ICE London 2024 Conference is known as the Global Gaming Hub for all B2B industry experts that provides an ideal platform for gaming industry leaders to share their achievements, initiatives and vision for the future.
ICE historically stands for “International Casinos Exhibition” and serves as the premier destination for industry innovation, collaboration and networking.
Earlier, Chairman Tengco said PAGCOR reached another milestone in 2023 with more than 1,000 licensed E-Gaming sites – with more applications in the pipeline.
“Because of the policy changes implemented by the current management, there was a considerable increase in gaming sites. We also approved reductions in (licensing) rates that contributed to the spike in approved sites,” he said.
“The E-Games sector’s notable performance positively impacted not only the local gaming industry but also PAGCOR’s revenue generation efforts,” Chairman Tengco said.
More policy tweaks – including further lowering licensing rates – and the growing integration of technology in gaming should allow the E-Games sector to continue fueling the growth of the local gaming industry with its projected Php61.75 billion in revenues in 2024.
Categoría:Reports
Tags: Sin tags
País: Philippines
Región: Asia
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
Nevada’s Regulatory Model Offers Key Lessons for Latin America at GAT Expo Cartagena 2026
(Cartagena de Indias, SoloAzar Exclusive).- During GAT Expo Cartagena 2026, SoloAzar provided exclusive on-site coverage of the international conference “Lessons from Nevada’s Regulatory Model for Latin America,” where Brian Krolicki, Vice Chairman of the Nevada Gaming Commission, delivered a comprehensive overview of regulatory best practices, emphasizing that “strong regulation is not the enemy of a successful gaming industry—it is the foundation that makes long-term growth possible.”
Thursday 26 Mar 2026 / 12:00
GAT Cartagena 2026 wraps up today with a focus on innovation and networking
(Cartagena, SoloAzar Exclusive).- Cartagena woke up vibrant on the final day of GAT Expo 2026, the trade show that over three days turned the city into the epicenter of gaming and technology in Latin America. We bring you details of today’s agenda and activities.
Thursday 26 Mar 2026 / 12:00
GAT Expo Cartagena 2026: A Strategic Gathering Driving Innovation, Business, and Regulation
(Cartagena de Indias, SoloAzar Exclusive).- On the second day of GAT Expo Cartagena 2026, the exhibition at the stands officially opened, where companies are showcasing their latest developments in products, systems, and platforms, marking the start of the event’s commercial activity. SoloAzar is on-site to capture the highlights of this key industry gathering.
Wednesday 25 Mar 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.