Gross gambling revenue in the Philippines increased 37.5% year-on-year in Q3 after a-near five-fold uptick within the online sector offset declines across the land-based market.
Data published yesterday (14 November) by the Philippines Amusement and Gaming Corporation (Pagcor) shows revenue hit PHP94.61 billion (£1.27 billion/€1.53 billion/$1.61 billion) during Q3. This is clear of the PHP68.79 billion reported last year and 2.7% higher than Q2 this year.
The stand-out result in Q3 was the PHP35.71 billion generated from electronic (or online) gaming, a rise of 465.0%. The Philippines electronic gaming cover activities such as online casino, sports betting, bingo and specialty games.
PAGCOR chairman and CEO Alejandro Tengco talked up the “phenomenal” increase. He said he expects the sector to continue to grow and reach its end-of-year PHP100 billion revenue target in 2024.
“This impressive performance is a strong indication that the use of modern technology and mobile gadgets in ga..
