The Philippine gaming industry is on track for another record year in 2025 with gross gaming revenues (GGR) nearly doubling in the last two years, the Philippine Amusement and Gaming Corporation (PAGCOR) said Tuesday.

Speaking at the Inside Asian Gaming (IAG) Summit 2025 at Newport World Resorts, PAGCOR chairman and CEO Alejandro H. Tengco also reiterated the agency’s plans to decouple PAGCOR’s commercial operations from its regulatory functions.

Tengco said industry GGR climbed from $3.75 billion in 2022 to $6.5 billion in 2024, while in the first half of this year, the number has already reached $3.8 billion, keeping the sector on track to achieve its $7 billion full-year target for 2025.

PAGCOR’s own revenues in the first semester, meanwhile, reached $1 billion.

Fastest-growing, most important gaming markets

“These numbers affirm the Philippines’ place as one of the fastest-growing and most important gaming markets in Asia,” Tengco said, emphasizing that reforms have been made to make sure that growth is both sustainable and responsible.

The PAGCOR chief said that the rapid rise of electronic gaming has contributed significantly to expansion but added that oversight must evolve to ensure integrity and player protection.

“The unprecedented and exponential growth of online gaming truly comes with success and revenues, but for us, our responsibility is to ensure that this sector’s growth comes not just with profit but with accountability, integrity, and player protection,” he said.

Among the gaming agency’s recent measures were the launch of the PAGCOR Guarantee Page to verify licensed platforms, responsible gaming tools such as self-exclusion and betting limits, and a 24/7 helpline set up with the Seagulls Flock Foundation.

PAGCOR has also banned the use of credit cards and cryptocurrencies for betting, tightened rules on gambling advertisements in partnership with the Ad Standards Council, and expanded coordination with law enforcement and cybercrime agencies to address illegal online gambling.

Tengco also noted that the country’s removal from the Financial Action Task Force grey list earlier this year was a milestone that strengthened investor confidence and validated compliance efforts against money laundering and financial crimes.

Decouple Pagcor as operator and regulator

While highlighting the local gaming industry’s performance, the PAGCOR chief reiterated plans to decouple the agency’s dual roles as operator and regulator.

“PAGCOR’s dual role has served its purpose in the past but as the industry matured, it became clear that — in layman’s terms — a referee cannot also be a player on the same field,” he said.

But before decoupling can be realized, PAGCOR must first obtain the approval of the Governance Commission for Government-Owned and Controlled Corporations which is now reviewing required documents.

Decoupling also requires careful legal consideration as PAGCOR is governed by Presidential Decree 1869 and Republic Act 9487.