The Philippines gaming sector achieved a record-breaking gross gaming revenue of PHP410 billion ($7.16 billion) in 2024. This represents a significant 25% increase from the previous year’s PHP329 billion ($5.7 billion). The iGaming sector, encompassing online casinos and bingo, saw an astounding 165% year-on-year growth, reaching PHP154.51 billion ($2.6 billion) and surpassing the PHP100 billion target by September. Traditional casinos, however, continued to lead with over PHP201 billion ($3.5 billion) in revenue. Regulatory changes, including a reduction in licensing fees from 55% to 30% by PAGCOR, have fueled this boom. The eSports gambling sector is also on the rise, projected to exceed PHP22.1 million ($18.5 million) in 2025. With technology driving further advancements, the industry anticipates continued growth across all sectors.
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