According to Tengco, this financial performance demonstrates the expanding role of technology in the gaming and entertainment industries. His statement, which reflects a larger trend where digital platforms are increasingly integrating into daily activities like shopping and entertainment, suggests a promising trajectory for the e-gaming industry. He said, “This impressive performance is a strong indication that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming.”
Contributions to the economy and modifications to regulations:
The P266 billion in revenues over the nine-month period, which is roughly 80% of PAGCOR’s yearly objective, suggests that the Philippine gaming industry is doing well overall. The electronic gambling business has had a major economic impact on this expansion, making up for the phase-out of Philippine offshore gaming operators (Pogos), which were formerly a thriving industry under former President Duterte. Since then, President Ferdinand Marcos Jr. has banned Pogos because of the criminality and reputational hazards they pose, which has changed the legislative landscape and the dynamics of the business.
The exit of Pogos, whose earnings dropped from P73.3 million in 2016 to P5 billion by 2023, stands in sharp contrast to the growth in electronic gaming, where the use of contemporary technology is clearly bridging the revenue gap. This change is a component of a broader development in the gaming industry that reflects evolving consumer habits and advances in technology.
PAGCOR is certain that it will meet its revenue targets as the year goes on, largely because of the electronic gaming industry’s rapid expansion. The key to the industry’s ongoing success and growth is its capacity to adjust to technological advances and incorporate them into gaming experiences. In addition to being in line with worldwide digital trends, this flexibility highlights the industry’s potential to have a big impact on the Philippine economy by generating jobs, tax income, and increased tourism.
