The Philippines' gross gaming revenue (GGR) soared to a record $1.4 billion in the first quarter of 2024, marking an 18.5% increase from the same period last year ($1.2 billion). The significant growth was primarily driven by the online gambling sector, which saw its income increase sixfold to $389.8 million.
Licensed casinos remained the largest contributors to GGR, generating $861 million over the three-month period. However, land-based casinos operated by PAGCOR under the Casino Filipino brand experienced a decline, bringing in $81.2 million compared to the previous year. This decrease is attributed to players shifting to the online sector.
The projected GGR for the full year is anticipated to reach $5.8 billion, with the first quarter alone accounting for more than 24% of this figure.
