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Philippine Gaming Industry's Revenues Nearly Double in 2022
Philippine gaming revenues almost doubled in 2022, reaching P214.34 billion, up 90% from the previous year's P113.09 billion, according to data from the Philippine Amusement and Gaming Corp. (PAGCOR). This was attributed to the gambling industry's increased operational capacity as the economy continued to reopen.
Casinos accounted for 78% of the gross gaming revenue (GGR) at P168.22 billion. Of this, P146.21 billion came from Entertainment City in Parañaque. Other licensees contributed 14% to the total GGR, with revenues raised jumping by 83% to P30.24 billion from P16.55 billion in 2021.
Philippine Gaming Revenues Soar as Ban on Electronic Cockfighting Takes Effect
Bingo operations contributed P20.12 billion, while electronic games contributed P8.1 billion to the GGR. Electronic E-sabong or cockfighting raised P2.03 billion in revenue during the first semester of 2022 but was banned by the Duterte administration in May, sustained by President Marcos through an executive order in December. PAGCOR-owned games earned P15.88 billion, almost doubling from P8.19 billion in 2021 and cornering the remaining 7% of the total GGR.
Philippine Gaming Revenue Booms with Casinos and Electronic Games Leading the Way
Slot machines generated more than half at P8.47 billion, followed by table games at P5.7 billion and junkets at P1.56 billion.PAGCOR earned P86.58 million from in-house Bingo and another P59.88 million from poker plays, both onsite and offsite. Last year, the government allowed casinos and other games to return to their operations at much bigger capacities. PAGCOR expects the industry to continue its growth momentum as the Philippines continues to open its borders to tourism.
