PAGCOR posts GGR of US$1.56bn for Q2
Gross gaming revenue was up 32.32 per cent when compared to last year.
The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) has reported that gross gaming revenue for the second quarter of the year reached PHP89.23bn (US$1.56bn). That’s a rise of 32.32 per cent year-over-year and 9.21 per cent sequentially.
According to the regulator, the largest growth was seen in the eGames sector, where revenue rose by 525 per cent year-over-year to PHP30.85bn (US$538.66m). PAGCOR chairman and CEO Alejandro H. Tengco said the sector “continues to surpass targets and should help cover up for any shortfall” resulting from the ban on offshore gaming operations by the end of the year.
Private casino resorts, including those located in Manila’s Entertainment City, continue to be the biggest contributors generating PHP49.48bn (US$863.95m). Revenue from PAGCOR-operated casinos reached PHP4.20bn (US$73.33m), down 14.8 per cent from a year earlier and 10.41 sequentially. Bingo revenue was also down at PHP4.69bn (US$81.89m).
