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Reports

Philippines: E-gaming industry growth nearly doubles in 2023

Tuesday 13 de February 2024 / 12:00

2 minutos de lectura

(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.

Philippines: E-gaming industry growth nearly doubles 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 DE INDIAS 2024

09 de April 2024

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Thursday 18 Apr 2024 / 12:00

Rocío Moitino from AIR DICE: “GAT has developed into a key event for the industry”

(Cartagena, SOLOAZAR Exclusive).-After AIR DICE's visit to the twenty-fifth edition of GAT Expo Cartagena 2024 Rocío Moitino, the company's Sales Director, reviews with us the highest points of the successful exhibition that took place at the Center of Las Américas Conventions, Cartagena de Indias, Colombia.

Wednesday 17 Apr 2024 / 12:00

NOVOMATIC was the epicenter of innovation and entertainment at GAT Cartagena

(Gumpoldskirchen).– GAT Expo, one of the flagship events of the Latin American gaming industry, commemorated its 25th anniversary from April 9 to 11 at the Hotel Las Américas in Cartagena de Indias. As a platinum sponsor, NOVOMATIC dazzled with a superb display of solutions, led by the NOVOMATIC Gaming Colombia team, the local subsidiary of the Austrian Group, and with the participation of renowned executives from Peru, Serbia, Austria and Ecuador.

Wednesday 17 Apr 2024 / 12:00

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