PAGCOR is expecting a slow recovery helped by pent-up demand.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Daniel Cecilio, licensing and regulatory group chief of the\u00a0Philippine Amusement and Gaming Corporation\u00a0<\/strong>(PAGCOR) has told Reuters he believes gaming revenue in the Philippines will recover to pre-pandemic levels, or surpass them, by 2026 as player confidence slowly returns.<\/p>\n\n\n\n In 2019, The Philippine’s gross gaming revenues (GGR) was a record PHP256bn (US$4.6bn). However, in 2020 revenue plummeted to around PHP100bn due to the Covid-19 pandemic.<\/p>\n\n\n\n In 2021, revenue was even lower, at PHP96.54bn<\/a>. However, in the first quarter of 2022<\/a>, revenue was up 14.8 per cent quarter-on-quarter, from PHP28.54bn (US$555.2m) to PHP32.75bn (US$ 626.9). The improvement coincided with a relaxation in the Covid-19 countermeasures as casinos returned to full capacity in March.<\/p>\n\n\n\n Cecilio predicts that annual GGR could reach PHP256bn<\/strong> or more by 2026, with land-based casinos contributing PHP146bn. He said the industry’s recovery will be driven by pent-up demand and a return to confidence among domestic and foreign players.<\/p>\n\n\n\n In April, banking group Morgan Stanley had predicted GGR <\/strong>at Philippine casinos could reach 85 per cent of pre-pandemic levels by the fourth quarter of this year.<\/p>\n","protected":false},"excerpt":{"rendered":" PAGCOR is expecting a slow recovery helped by pent-up demand.<\/p>\n","protected":false},"author":176,"featured_media":17179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR projects the Philippines' gross gaming revenues (GGR) will recover to or surpass pre-pandemic levels of PHP256bn by 2026, driven by pent-up demand and returning player confidence. This follows a significant decline in 2020-2021 and a 14.8% Q1 2022 increase, coinciding with relaxed Covid-19 restrictions and full casino capacity.","focusai_entities":"PAGCOR, Daniel Cecilio, Reuters, Morgan Stanley","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR GGR Forecast Drivers","query":"What specific economic indicators or policy changes does PAGCOR anticipate will primarily drive the projected GGR recovery to PHP256bn by 2026, beyond general 'pent-up demand'?"},{"label":"Land-based vs. Online Growth","query":"Given the significant land-based casino contribution to the GGR forecast, what is PAGCOR's outlook on the growth trajectory and regulatory framework for online gaming verticals within the Philippines during this recovery period?"}],"footnotes":""},"categories":[163,16333],"tags":[229,23907],"class_list":["post-32086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-gambling","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=32086"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32086\/revisions"}],"predecessor-version":[{"id":32111,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32086\/revisions\/32111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17179"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}