MANILA, Dec 10 (Reuters) - The Philippine gambling

industry's revenue is projected to reach a record of more than

350 billion pesos ($6.03 billion) this year, driven by growth in

the electronic gaming sector, the head of the country's gaming

regulator said on Tuesday.

The forecast surpasses the 334 billion pesos target set by

the Philippine Amusement and Gaming Corp (Pagcor) and represents

a significant increase from the previous year's gross gaming

revenue (GGR) of 285 billion pesos.

"Our GGR for the year, I think it's over 350 billion pesos,"

Pagcor Chairman Alejandro Tengco told reporters. GGR is a key

industry metric that reflects the total amount wagered by

players minus their winnings.

A boost in the revenues of Pagcor, which is directly under

the office of the Philippine president, bodes well for the

Southeast Asian country because the bulk of its earnings form

part of the national budget.

Manila's gambling scene, which features a smaller version of

Las Vegas's amusement strip with integrated casino resorts owned

by companies like Japan's Universal Entertainment Corp ( UETMF ) and Melco

Resorts & Entertainment Ltd, continues to attract high rollers

from China, Japan, South Korea, and other countries.

Tengco also announced that Pagcor is on track to revoke all

licenses of offshore gambling firms by year-end in compliance

with President Ferdinand Marcos Jr.'s July directive banning

Philippine offshore gambling operators, or POGOs.

The ban follows reports of POGO-related crimes, including

human trafficking, torture, kidnapping, and fraudulent

activities such as credit card scams and cryptocurrency

investment fraud.

The online gambling industry emerged in the Philippines in

2016, rapidly expanding as operators leveraged the country's

liberal gambling laws to target Chinese customers, where

gambling is illegal.

($1 = 58 Philippine pesos)

(Reporting by Karen Lema

Editing by Ros Russell)