The decline was largely driven by the weaker performance of the electronic gaming sector – including E-Games, E-Bingo, bingo and poker – which posted a combined 22.43% year-on-year decline in GGR during the January-to-March period.
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco said the gaming industry’s first quarter performance reflected the impact of economic headwinds and evolving market conditions.
“We attribute the first quarter dip to several factors, including softer discretionary spending amid geopolitical tensions in the Middle East, and rising inflationary pressures,” Mr. Tengco said.
Licensed casinos emerged as the industry’s largest revenue contributor during the period, generating Php44.52 billion or 50.83% of total GGR.
The electronic gaming sector brought in Php39.90 billion in gross gaming revenues during the quarter, accounting for 45.55% to the GGR pie.
PAGCOR-operated casinos contributed Php3.17 billion, accounting for 3.62% of total GGR.
Mr. Tengco said he remains optimistic about the future of the local gaming industry as operators continue to invest in integrated resort developments, digital innovation, and responsible gaming initiatives.
“We remain hopeful that once the geopolitical tensions in the Philippines stabilize, consumer confidence and discretionary spending will also gradually recover, which should help support improved industry performance,” he said.
“PAGCOR’s P5.67 billion dividend remittance makes available much-needed fiscal resources that will enable the national government to mitigate the effects of the global oil crisis and pursue programs geared toward meaningful economic and social transformation,” he added.
