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According to a report from Alejandro Tengco, Chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), the revenue of the Philippines' electronic gaming industry in 2023 exceeded pre-pandemic levels, contributing 581.6 billion pesos to the overall gaming industry.
Tengco pointed out in the statement that the electronic gaming industry, including electronic games, electronic bingo games, specialty games, and sports betting, accounted for a record-breaking share of 322.4 billion pesos in the total gaming revenue last year, surpassing pre-pandemic levels. Compared to 2022, the revenue of the electronic gaming industry increased by 92.32%, reaching 302.4 billion pesos.
The institution stated that they achieved a significant milestone in 2023, having over 1000 licensed electronic gaming websites. Tengco explained that the significant increase in the number of gaming websites was due to policy changes implemented by the management, including further lowering license rates and continuous integration of gaming technology, which is expected to continue fostering the growth of the electronic gaming industry.
According to PAGCOR's forecast, the revenue of the electronic gaming industry is expected to further increase in 2024, reaching an estimated 617.5 billion pesos. |
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Post time 18-2-2024 08:00:26