Philippine e-Gaming Industry Growth Doubled in 2023

Philippine e-Gaming Industry Growth Doubled in 2023

The Philippine e-gaming industry enjoyed a banner year in 2023. According to sportsbook pay per head industry experts, its revenues almost doubled year over year. Furthermore, the Philippine Amusement and Gaming Corporation attributed the success to policy reforms.

The e-gaming industry, which encompasses online games, bingo, specialty games, and sports betting, brought in Php 58.16 billion in 2023, an increase of 92.32% from the previous year’s earnings of Php 30.24 billion. The e-Games’ contribution to the 2023 GGR also broke the previous record set in 2019 (before the pandemic) with Php 32.24 billion.

Attendees of the ICE London 2024 Conference, widely recognized as the world’s preeminent B2B gaming event, will hear from pioneers in the field about their latest projects, goals, and successes.

Growth of the Philippine e-gaming Industry

Philippine e-Gaming Industry Growth Doubled in 2023According to sources, ICE has long been known as the “International Casinos Exhibition” and is now the go-to place for innovative thinking, teamwork, and networking in the casino sector. Under the leadership of Chairman Alejandro Tengco, PAGCOR achieved another milestone in 2023. The regulator also granted over 1,000 licensed E-Gaming sites. Furthermore, more applications are coming.

There was a dramatic uptick in gambling sites when the present administration made several legislative reforms. He also explained that the increase in authorized locations was partly because they authorized reductions in license prices. Chairman Tengco spoke about how the E-Games sector’s success benefited both the local gaming industry and PAGCOR’s attempts to generate money.

The e-games sector is anticipated to continue contributing to the expansion of the local gaming industry, with projected revenues of Php61.75 billion in 2024, thanks to additional policy adjustments, such as further reductions in licensing rates and the increasing integration of technology into gaming. More people want to become a bookie in the Philippines.

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