E-games Contributes To US$1.6 Billion Philippines GGR In Q2

The Philippine gaming division, which includes the non-casino business, posted gross gaming revenue (GGR) of 89.23 billion PHP ($1.56 billion), up 32.3% year-over-year in the three months to June 30.

The tally was up 9.2% quarter-on-quarter, Philippine casino regulator Pagcor said in a release on Sunday, setting a new quarterly record in terms of GGR across the industry.

The agency said its e-delivery gaming division remained the industry's best performer in terms of growth during the period, posting 30.85 billion PHP in the second quarter.

"The game segment posted an impressive 525% year-over-year increase," said Alejandro Tenko, president and chief executive of Pagcore, in the data.

"The sector continues to exceed its targets and will help make up for the shortfall caused by the [Philippines] president's order to ban the operation of marine games by the end of the year," Tengko said.

Pagcor said in a recent written response to GGRAsia that the decision to ban overseas online gaming operators "will have minimal impact on the Philippine gaming industry as the sector accounts for less than 5% of total gaming revenue."

China's licensed commercial-sector casino was still the "biggest contributor" to gross profit of 49.5 billion PHP in the second quarter. The figure was down 4.3% year-over-year and flat on the previous quarter, according to Sunday's release.

According to the Pagcor-run Casino Philippine Casino Network, revenue fell 14.8% year-over-year to 4.22 billion PHP in April-June, down 10.4% quarter-over-quarter.

Pagcor expects to post 336.38 billion PHP in revenue for the U.S. gaming industry this year, up 17.9% from 2023. Its first-half total accounted for 50.8% of the agency's target. 파워볼사이트

In July, state-owned Pagcor reported net profit of 6.56 billion PHP in the first half of 2024, up 121.5% from a year earlier.