By 2028, gaming revenues in the Philippines could double due to an influx of tourists

Alejandro Tengco, chairman of the Philippine Amusement and Gaming Corporation (PAGCOR), anticipates that the country's gaming industry will double its gross revenue by 2028. This growth is fueled by an increasing influx of tourists, particularly affluent Chinese gamblers.
The Philippine gaming sector is expected to achieve at least 10% annual growth in gross gaming revenue (GGR). This year, it is on track to set a record, with projections for the next five years estimating revenues between 450 and 500 billion pesos (approximately $8.1 to $9 billion).
GGR is a key industry metric that represents the total amount wagered by players minus their winnings. In 2019, the sector reached a then-record high of 256 billion pesos (around $4.6 billion at current exchange rates). Although growth was poised to continue, the COVID-19 pandemic disrupted this trajectory. However, the industry began to recover in 2021, and in 2022, GGR reached 214 billion pesos (about $3.8 billion).
"Currently, strong performance is supported by a steady base of local players," Tengco stated. "The international market still has room for growth, particularly with improvements in travel regulations."
The Philippine gaming industry attracts visitors from countries such as China, South Korea, and Japan. The country is already home to several large foreign and domestic casino resorts. However, future competition is expected from Thailand, which plans to legalize gambling, and Japan, where the first casino has already been approved for opening.
According to Tengco, in addition to the four gaming establishments currently operating in the capital, six more are expected to open across the country. These include a project in Pampanga province valued at up to $2 billion and $300 million projects from Bloomberry Resorts and Global-Estate Resorts. The Philippines is also enhancing its status as a preferred gaming destination through the privatization of state-run casinos and political reforms, Tengco reported.
Notably, in July, the combined revenue of Detroit's casinos exceeded $106 million.