PAGCOR 1st half e-games revenue at nearly P115B – BusinessWorld Online
REVENUE from electronic gaming amounted to P114.83 billion in the first six months, up 81.78% and generating 53.47% of all gross gaming revenue, the Philippine Amusement and Gaming Corp. (PAGCOR) said.
In a statement on Tuesday, the regulator said the segment consists of e-games, e-bingo, and bingo grantees.
“PAGCOR recognizes the earning potential of the e-games sector, but as the country’s gaming regulator, our foremost responsibility is to ensure that growth comes with accountability,” PAGCOR Chairman and Chief Executive Officer Alejandro H. Tengco said.
Online gaming is currently the target of a campaign for stricter regulation, increased taxation, or even an outright ban amid concerns about social impacts like gambling addiction.
Mr. Tengco noted that “our role goes beyond revenue generation; as partners of the government in nation-building, we are committed to always strike a balance between enabling industry expansion and ensuring it aligns with responsible gaming standards,” he said.
Finance Secretary Ralph G. Recto on Monday said the government is still studying the potential measures to curb social problems linked to the industry.
PAGCOR opposes an e-gaming ban and is trying to steer the debate towards stricter regulation.
PAGCOR recently signed an agreement with the Ad Standards Council to strengthen the monitoring of gambling-related advertisements across all platforms.
It also recently ordered the takedown of all gambling ads in public spaces and on primetime television by Aug. 15. — Aubrey Rose A. Inosante
