GROSS gaming revenue (GGR) rose 37.52% to P94.61 billion in the third quarter, the Philippine Amusement and Gaming Corp. (PAGCOR) said.
In a statement on Thursday, the regulator said the growth was driven mainly by strong growth in the electronic gaming segment, which generated P35.71 billion in revenue, up from P6.32 billion a year earlier.
PAGCOR Chairman and Chief Executive Officer Alejandro H. Tengco said: “by year-end, we expect this sector to generate as much as P78 billion in license fees alone, substantially contributing to the realization of our P100-billion revenue target for 2024,” he said.
Revenue from licensed casinos declined 2.27% from last year’s record of P51.90 billion but remained the biggest contributor to third quarter GGR with P50.72 billion.
Casino Filipino gaming revenue fell 26.32% to P3.64 billion.
Bingo GGR dropped 19.43% to P4.52 billion.
Mr. Tengco said he is optimistic that e-games will continue to grow as technology increasingly becomes part of people’s lifestyles as it did for shopping and entertainment. — Aubrey Rose A. Inosante
