Philippines GGR up 110.4% for Q3

Philippine casinos generated gross gaming revenue of just over PHP49.36bn (US$860.7m).

The Philippines.- The Philippines Amusement and Gaming Corp (PAGCOR) has reported that gross gaming revenue in the third quarter of the year came to PHP49.36bn (US$860.7m). That’s a rise of 7.6 per cent quarter-on-quarter and 110.4 per cent year-on-year.

Private casino resorts, including those located in Manila’s Entertainment City, produced about 90.7 per cent of all GGR (PHP44.75bn). This was up by 6 per cent quarter-on-quarter and 105 per cent when compared to last year. Revenue from bingo, electronic games parlours and e-sabong are not included in casino GGR figures.

PAGCOR-owned casinos generated PHP4.63bn, up 21.6 per cent. This excludes bingo revenue at in-house venues.

In the three months to September 30, table games GGR at PAGCOR-run casinos was up 34.2 per cent when compared to the previous quarter from PHP1.32bn to PHP1.77bn. The amount generated from slots rose by 11.9 per cent, from PHP2.12bn to PHP2.37bn.

PAGCOR reported a net income of nearly PHP104.9m for the period. The regulator has reported that net income grew from PHP183.92m to PHP3.48bn (US$60.1m) for the first nine months of the year. PAGCOR’s aggregate revenue was up 73.5 per cent to PHP42.27bn while income from gaming operations rose by 75.8 per cent to PHP39.17bn.

It attributed the increase in revenue to the easing of Covid-19 restrictions. Many casinos in the Philippines resumed full operations in March.