Philippines GGR up 13.5% for Q4
Philippine casinos generated gross gaming revenue of just over PHP46.01bn (US$1.02bn) in the fourth quarter of 2022.
The Philippines.- Authorities in The Philippines have revealed gross gaming revenue in the fourth quarter of the year was up 13.5 per cent quarter-on-quarter from PHP49.36bn (US$860.7m) to PHP46.01bn (US$1.02bn). The figure was up 96.2 per cent on year-on-year terms.
Private casino resorts, including those located in Manila’s Entertainment City, produced about 78.7 per cent of all GGR (PHP44.06bn). This was up by 15.2 per cent quarter-on-quarter. Revenue from bingo, electronic games parlours and e-sabong is not included in casino GGR figures.
Commercial casinos in the Clark Freeport Zone generated nearly PHP6.78bn, an increase of 11.3 per cent from the preceding quarter. Aggregate revenue from PAGCOR-operated casinos reached just above PHP4.80bn, up 4.3 per cent quarter-on-quarter.
Non-VIP table games GGR increased by 1.1 per cent, reaching PHP1.79bn, while mass-market slot GGR fell by 1.2 per cent quarter-on-quarter to PHP2.34bn. Total casino GGR for the entire year reached PHP184bn, an increase of 90.6 per cent compared to the previous year.
Entertainment City’s casino resorts generated GGR of nearly PHP146.21bn, accounting for 79.5 per cent of all industry GGR, while PAGCOR-operated sites reached PHP15.79bn, with more than half coming from mass-market slot machines.
The easing of capacity restrictions in November 2021 contributed to the industry’s growth in the final quarter of 2022.