The Philippines’ gaming industry enjoyed double-digit growth in 2017, thanks to gains in every sector except retail eGaming venues.
This week, the Philippine Amusement and Gaming Corporation (PAGCOR) released its Q4/FY 2017 official figures, the first such update since the release of the Q2 2017 figures last October, which was itself the first time in nearly a year that PAGCOR had deigned to update the public on its accounting.
Total gaming revenue in 2017 improved 11.6% year-on-year to P176.5b (US$3.37b), of which the land-based casino sector accounted for P152.5b (+13.8%). The nascent Philippine Offshore Gaming Operators segment contributed P3.13b last year, a figure PAGCOR recently forecast would double in 2018.
The Philippines’ casino industry is divided into two segments: those venues directly under PAGCOR’s control (although these are slated for imminent privatization) and those operated by third parties under a PAGCOR license.