PAGCOR Reports Nationwide Impact, E-Games Lead Overall Growth
Manila’s Entertainment City casinos—including City of Dreams Manila, Okada Manila, Newport World Resorts, and Solaire Resort—reported a combined gross gaming revenue (GGR) of Php164.1 billion (US$2.87 billion) in 2024. This marks a 5.3% year-on-year decline, even though revenues slightly improved toward the end of the year.
Nationwide Decline Led by Entertainment City
According to PAGCOR, the drop in Entertainment City’s GGR surpassed the overall decrease across all licensed casinos, which recorded a 2.7% dip to Php201.8 billion (US$3.53 billion).
Casinos in Clark saw a modest 1.1% drop to Php26.9 billion (US$470 million). In contrast, Greenfield casinos—located in rural areas with tourism potential—experienced a surge of 71.9%, reaching Php9.47 billion (US$166 million).
PAGCOR-Operated Casinos Face Steep Losses
PAGCOR-operated casinos were hit harder, with revenues plunging 18.6% year-on-year to Php16.0 billion (US$280 million). Slot machines remained their top earners, generating Php8.23 billion (US$144 million).
E-Games Fuel Industry Growth
Despite declines in land-based casinos, the total industry GGR grew by 30.5%, reaching Php372.3 billion (US$6.51 billion) in FY24. This was largely driven by the booming E-Games sector, which contributed Php135.7 billion (US$2.37 billion).
In Q4 2024, licensed casinos posted their best performance of the year, with Php51.9 billion (US$907 million) in GGR. Entertainment City alone generated Php42.7 billion (US$746 million) during the quarter.
Regulatory Impact and Outlook
The broader GGR decline partially stems from the government crackdown and eventual ban on offshore gaming operators (POGOs). These operators had played a major role in the VIP segment, especially within Entertainment City properties.
As the industry adjusts to regulatory changes, the growth of digital gaming may become its new cornerstone.
