Philippines gaming revenues hits record in 2023

The Philippines' gross gaming revenue will reach 285.27 billion Philippine pesos (US$5.09 billion) by the end of 2023. This follows from the report of the Philippine Amusement and Gaming Corporation (PAGCOR), which was published on 16 January.

As noted in the document, the revenue was a record for the history of the gambling industry in the Asian nation.

The previous record, which pertained to 2019, was 256.49 billion Philippine pesos. Meanwhile, in 2022, the Philippines' gross gaming revenue reached 285.27 billion Philippine pesos.

According to PAGCOR chief Alejandro Tengco, integrated resorts continue to be the biggest contributors to the gaming industry. They generated a combined revenue of P207.48 billion in 2023. The revenue from the PAGCOR-run Casino Filipino chain totalled P19.62 billion.

Authorities forecast that in 2024, the Philippines' gross gaming revenue could reach 336.38 billion Philippine pesos.