PAGCOR Reports Spike in Online Gaming License Interest

The Philippines’ gaming industry is entering a new phase of expansion.

Following the country’s removal from the Financial Action Task Force (FATF) grey list, online gaming license applications have surged.

PAGCOR attributes this renewed interest to its decisive regulatory actions, including the ban on Philippine Offshore Gaming Operators (POGOs).

With record-breaking gaming revenues and a strong regulatory framework, the country is now positioned as a leading gaming hub in Asia.

PAGCOR Sees Surge in Online Gaming License Interest After FATF Grey List Removal

Key Points

• PAGCOR reports a sharp increase in online gaming license inquiries following the FATF grey list removal.
• The ban on POGOs was a decisive factor in improving the Philippines’ financial system integrity.
• Gross gaming revenue (GGR) in the Philippines reached $7.16 billion in 2024, a nearly 25% year-on-year increase.

Why the FATF Grey List Exit Matters for the Philippines

The Financial Action Task Force (FATF) grey list includes jurisdictions under increased monitoring due to financial integrity concerns. The Philippines was on the list for three years, facing scrutiny over anti-money laundering (AML) compliance and regulatory enforcement.

Key Actions That Led to Removal:

• Ban on POGOs, eliminating high-risk offshore gaming operations.
• Stronger AML policies, ensuring financial transparency.
• Regulatory restructuring, reinforcing oversight of gaming transactions.

According to PAGCOR Chairman and CEO Alejandro Tengco, the POGO ban was a crucial factor in demonstrating the country’s commitment to financial system integrity and money laundering prevention.

The result? A flood of new interest in regulated online gaming licenses.

Online Gaming Licensing Demand Surges

Since the FATF announcement, PAGCOR has seen a surge in online gaming license applications. The agency reported a significant increase in inquiries from operators, eager to understand the regulatory framework.

What’s driving the demand?

• Clearer regulations following the POGO ban
• Investor confidence in the Philippines’ gaming market
• Reduced remittance rates for online and on-site betting platforms

Despite ongoing debates over a total online gambling ban, PAGCOR continues to refine its licensing framework to support industry growth while ensuring responsible gaming practices.

Philippine Gaming Industry Experiences Record Growth

2024 Gaming Revenue Highlights:

• Total GGR: $7.16 billion (25% YoY growth)
• Land-Based Casinos: Nearly 50% of total GGR
• eGames & eBingo: Significant growth, driven by technology and mobile gaming adoption

To support this rapid expansion, PAGCOR has lowered remittance rates from 35% to 30%, making the sector more competitive and sustainable.

PAGCOR Strengthens Regulatory Oversight and Responsible Gaming Measures

Key Policy Changes:

• Mandatory contributions from licensed operators toward national development projects
• Enhanced responsible gaming requirements to address industry growth
• Real-time monitoring of gaming activities to prevent fraud and unauthorized operations

Law enforcement agencies are also intensifying efforts to dismantle remaining POGO operations.

The Philippine National Police (PNP) has deployed tracker teams to locate and shut down illegal offshore gaming operators.

A Stronger, More Secure Gaming Industry in the Philippines

With the FATF grey list exit, PAGCOR’s refined regulatory approach, and record-breaking GGR growth, the Philippines is cementing its status as a premier gaming market in Asia.

What’s next?

• More investment opportunities as international operators seek entry into the regulated market.
• Continued enforcement against unauthorized gaming activities.
• Sustained growth fueled by strong regulations and digital innovation.

The Philippines’ gaming industry is evolving— and the world is watching.