The gaming industry in the Philippines has seen a significant uptick in revenue in the first half of 2024, with a staggering 19% increase year-on-year to over US$3.3 billion, according to a report by Inside Asian Gaming (IAG).
This surge in revenue is a promising sign for the country’s gaming sector, which has been steadily growing in recent years. The Philippines has become a hub for gaming and entertainment in Southeast Asia, attracting both domestic and international players to its casinos and integrated resorts.
According to the report, the increase in gaming revenue can be attributed to a variety of factors, including a growing middle class with disposable income, a strong tourism industry, and the continued development of new gaming facilities. The Philippines has also benefitted from the rise of online gaming platforms, which have become increasingly popular among players in the country.
The report also highlighted the impressive performance of several key gaming operators in the Philippines, including Bloomberry Resorts, which saw a 27% increase in revenue in the first half of 2024. Other operators, such as Melco Resorts and Entertainment and Solaire Resort and Casino, also reported strong growth during the same period.
In addition to the increase in gaming revenue, the Philippines has also seen a rise in gaming-related jobs and investment in infrastructure. The country has been working to attract more foreign investment in the gaming sector, with several new integrated resorts in the pipeline.
Overall, the future looks bright for the gaming industry in the Philippines, as it continues to thrive and expand. With strong revenue growth, increasing investment, and a growing market, the country is poised to become a major player in the global gaming industry.
