The Philippine Amusement and Gaming Corporation (PAGCOR) reported that the country’s gaming industry is on track for another record-breaking year in 2025, with gross gaming revenues (GGR) nearly doubling over the last two years.

Speaking at the Inside Asian Gaming Summit 2025 at Newport World Resorts, PAGCOR Chairman and CEO Alejandro H. Tengco also reaffirmed plans to separate the agency’s regulatory and commercial roles, a move long pushed by industry stakeholders.

Industry GGR rose from US$3.75 billion in 2022 to US$6.5 billion in 2024. In the first half of 2025 alone, GGR already reached US$3.8 billion, keeping the sector on course to meet its US$7 billion full-year target. PAGCOR’s own revenues in the first semester stood at US$1 billion.

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

He pointed to the surge in electronic gaming as a major growth driver but underscored the need for strong oversight. “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.

Recent PAGCOR initiatives include the launch of a Guarantee Page to verify licensed platforms, responsible gaming tools such as self-exclusion and betting limits, and a 24/7 helpline in partnership with the Seagulls Flock Foundation. The regulator has also banned the use of credit cards and cryptocurrencies for betting, tightened rules on gambling advertisements with the Ad Standards Council, and expanded coordination with law enforcement to combat illegal online gambling.

Tengco noted that the country’s removal from the Financial Action Task Force grey list earlier this year was a milestone that boosted investor confidence and validated anti-money laundering efforts.

On PAGCOR’s privatization plans, Tengco said the dual role of regulator and operator is no longer viable. “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.

Before decoupling can proceed, the Governance Commission for Government-Owned and Controlled Corporations must first approve the proposal. The plan also requires legal adjustments since PAGCOR is governed by Presidential Decree 1869 and Republic Act 9487.

Tengco assured Casino Filipino employees that they would be protected through redeployment, absorption by privatized operators, or competitive retirement packages once the privatization takes effect.