PAGCOR's net profit for the first half of 2024 reached 6.56 billion
PAGCOR's gross revenue rose by 42.92%, climbing from 36.21 billion pesos (around $64 million) to 51.76 billion pesos (about $92 million). The majority of this revenue, 45.39 billion pesos (approximately $81 million), came from gaming operations. The online gaming sector alone contributed 20.66 billion pesos (around $37 million), accounting for over 45% of the total revenue.
Licensed PAGCOR land-based casinos, including integrated resorts, generated 16.06 billion pesos (approximately $28 million). The Casino Filipino network, managed by the regulator, earned 6.93 billion pesos (around $12 million).
PAGCOR Chairman and CEO Alejandro Tengco attributed the sustained profit growth of the state-owned gaming company to the positive impact of reforms. He stated that the revenue generated in the first half of the year could potentially enable the regulator to reach or exceed the 100 billion peso (approximately $180 million) mark by the end of 2024.
"Given the phenomenal growth in electronic gaming revenues and the increasing interest from players and investors looking to enter the Philippine market, we are confident that 2024 will be a truly landmark year for PAGCOR," Tengco said.
The total gross revenue of the Philippine gaming industry from January to June amounted to 194.7 billion pesos (approximately $348 million), reflecting a 121.48% increase compared to the same period in 2023. Licensed casinos contributed the largest share, generating 99.16 billion pesos (around $177 million). The iGaming market showed the most significant growth, earning 63 billion pesos (approximately $113 million), a figure that is three times higher than what was recorded in 2023.
It is worth noting that PAGCOR transferred 17.38 billion pesos to the Philippine treasury in the first five months of 2024.
Blog
Explore more interesting news
Amigo Gaming has announced a new partnership with Elantil, a company renowned for its flexible, modern, and operator-focused approach. As part of the agreement, the ...
The Brazilian Senate's Economic Affairs Committee (CAE) has approved a bill to gradually increase the gross gaming revenue (GGR) tax for casino operators from 12% ...
Pragmatic Play has announced a new partnership with Loterías Torito, aimed at strengthening the provider's position in the regulated Peruvian iGaming market. This agreement will ...
Lotte Tour Development Co. Ltd, the owner of the South Korean casino Jeju Dream Tower, has released its financial results for November 2025. During this ...
Genting Malaysia's revenues significantly exceeded forecasts for the third quarter of 2025. The group's total revenue rose by 22% year-on-year, reaching $813 million (63.6 billion ...
A user of the online casino DraftKings in Michigan has set a new record for the American gambling industry by winning the largest jackpot in ...
Content provider for online casinos, Amigo Gaming, is continuing its expansion in Latin America. The company has announced an extension of its strategic partnership with ...
The regulated sectors of online betting and land-based gambling have played a crucial role in the significant increase in Brazil's tax revenues in October and ...
Finland is steadily moving towards the licensing of its iGaming sector. Today, the country's authorities published two draft technical documents that will form part of ...
BGaming, a prominent game developer, has been honored with the prestigious SiGMA Central Europe Award for "Best Casino Game of 2025" for its viral hit, ...
The iGaming industry in Ontario set record results in October 2025, achieving its highest figures since the launch of the regulated market in 2022. According ...
Booming Gaming has announced a partnership with online casino operator Placard, marking the supplier's debut in Portugal's regulated iGaming market and strengthening its presence in ...
