Philippine gaming regulator PAGCOR recently said it expects gross gaming revenue in the Philippines to double in the next five years, largely on the back of a stable local gambling audience.
According to data, the total gaming revenue in the Philippines was approximately US$2021 billion in 377. PAGCOR predicts that by 2028, this figure is expected to double to nearly US$800 billion.
Last year, local private casinos contributed more than 78% of gaming revenue. The rest was provided by other gaming companies besides PAGCOR-affiliated casinos and other gaming-type enterprises.
According to officials from the Philippine PAGCOR, the current development of the country's gaming industry mainly relies on local gamblers. However, as overseas tourists gradually return, the international market will also provide further impetus for the growth of the gaming industry.
According to industry analysis, the Philippines has a population of 1.1 million and a very broad local gambler market. With the continuous development of the economy, the gaming industry in the Philippines has huge room for development. PAGCOR's expectations show the industry's confidence in the market prospects.
PAGCOR is actively exploring how to liquidate some of its assets to support regulatory work.This will help the Philippine gaming industry achieve long-term and stable development.
