The Philippines has reported gross gambling revenue of PHP28.54bn (US$555.2m) for the three months to December 31.
The Philippines.- The Philippine Amusement and Gaming Corp (PAGCOR) has reported that gaming revenue grew by 21.7 per cent quarter-on-quarter to PHP28.54bn (US$555.2m) for the fourth quarter of 2021. It reported full-year gross gambling revenue of PHP96.54bn, up 12.4 per cent year-on-year.
Revenue from casinos located in Entertainment City in Metro Manila was PHP23.81bn, up 23 per cent quarter-on-quarter. It represented 83.4 per cent of all industry GGR. Casinos located in the Clark Freeport Zone generated nearly PHP2.30bn GGR while PAGCOR-operated casino revenue was PHP2.22bn, up 32.1. per cent when compared to the previous quarter.
The growth in GGR when compared to the previous quarter came after an easing of capacity restrictions in casino venues at Entertainment City. The capital Manila and 38 other regions in the Philippines have now been placed under Alert Level 1 Covid-19 restrictions from March 1 until at least March 15. Alert Level 1 is the lowest level of countermeasure.