Philippines GGR down 27% for Q2

Revenues were affected by Covid-19 countermeasures.

08/20/21

The Philippines’s GGR was down 27 per cent quarter-on-quarter, mainly due to the temporary closure of casino venues in Metro Manila.

The Philippines.- The Philippine Amusement and Gaming Corp (Pagcor) has reported that gaming revenue fell by 27 per cent to PHP18.80bn (US$373.0m) in the second quarter of 2021, down from PHP25.74bn in the first quarter.

However, GGR was up 690 per cent when compared to the previous year when the Covid-19 pandemic haltered the gaming industry and the majority of the casino venues were closed. The second-quarter decline is also related to the Enhanced Community Quarantine (ECQ), announced by the government in April.

Manila’s casinos generated 78 per cent of the GGR for the second quarter, with a total of PHP14.67bn. However, the number fell by 30.5 per cent from the previous quarter when casino venues generated almost PHP21.12bn.

Casinos located in the Clark Freeport Zone reached PHP2.24bn in GGR, up 19.1 per cent when compared to the PHP1.88bn registered for the first quarter. Thunderbird Resorts and Casinos gaming properties experienced a 67.9 per cent decline quarter-on-quarter to PHP86.93m.

PAGCOR operated casinos reached PHP486.2m in table games GGR, down 35.4 per cent from the previous quarter. Slot machines GGR dropped by 27.1 per cent from PHP1.46bn to PHP1.07bn.

The total GGR generated by PAGCOR properties in the second quarter was PHP1.80bn – 9.6 per cent of all industry GGR and a decrease of 27.3 per cent from the first three months of the year.

PAGCOR gaming income down 20 per cent for H1

In July, PAGCOR revealed that gaming income for the first half fell by 20 per cent year-on-year to PHP14.7bn (US$293.1m). During the first six months, the regulator made a profit of PHP79m.

PAGCOR previously reported that gaming revenue fell by 51.4 per cent year-on-year to PHP8.36bn (US$172.8m) in the first quarter of 2021, compared to nearly PHP17.22bn (US$339.8m) in the first quarter of 2020.

Net income reached PHP152.6m (US$3.2m), down 80 per cent from Php777.4m (US$15.3m).

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