Philippine gaming regulator PAGCOR has reported an all-time revenue record of Php112 billion (US$1.92 billion) in 2024, bolstered by the phenomenal growth of the country’s domestic online gaming, or E-Games, segment.
Net income also grew by 146% year-on-year to Php16.8 billion (US$287 million).
According to the regulator’s 2024 financial accounts, the new revenue record represents a 41% increase over 2023 revenues and eclipses the previous record of Php82.0 billion (US$1.40 billion) achieved in 2019.
“We are proud to announce that our 2024 financial performance is the best so far in the history of PAGCOR, and we thank our employees and stakeholders for making such achievement possible,” said PAGCOR Chairman and CEO Alejandro H. Tengco, noting that the E-Games and E-Bingo sectors contributed 50% of all revenue of 2024 gaming revenues.
