{"id":777005167,"date":"2023-05-12T08:29:45","date_gmt":"2023-05-12T11:29:45","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777005167"},"modified":"2026-04-22T22:03:39","modified_gmt":"2026-04-23T01:03:39","slug":"philippines-ggr-up-80-9-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-up-80-9-for-q1","title":{"rendered":"Philippines GGR up 80.9% for Q1"},"content":{"rendered":"\n<p>Gross gaming revenue was PHP59.26bn (US$1.06bn) in the first quarter.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- Authorities in The Philippines have reported that gross gaming revenue in the first quarter of the year was up 80.9 per cent&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-up-14-8-for-q1\" target=\"_blank\">year-on-year<\/a>. GGR rose from PHP32.75bn (US$ 626.9m) to PHP59.26bn (US$1.06bn) and was up 5.8 per cent&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-up-13-5-for-q4\" target=\"_blank\">quarter-on-quarter<\/a>.<\/p>\n\n\n\n<p><strong>Private casino resorts<\/strong>, including those located in Manila\u2019s Entertainment City, produced 76.7 per cent of all GGR (PHP45.44bn). This was up by 69 per cent year-on-year and 3.1 per cent when compared to the previous quarter. <\/p>\n\n\n\n<p>Commercial casinos in the&nbsp;<strong>Clark Freeport Zone&nbsp;<\/strong>generated nearly PHP8.29bn, an increase of 175.1 per cent from a year ago and up 22.2 per cent quarter-on-quarter. Aggregate revenue from PAGCOR-operated casinos reached just above PHP5.10bn, up 96.2 per cent year-on-year and up 6.2 per cent from the fourth quarter of 2022. Revenue from bingo, electronic games parlours and e-sabong is not included in casino GGR figures.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-reports-net-income-of-us317-97m-for-q1\" target=\"_blank\">PAGCOR<\/a>&nbsp;has recently reported net income of PHP1.87bn (US$303.19m) for Q1, up 42.6 per cent year-on-year from PHP624.7m. Revenue from gaming operations was up 49 per cent year-on-year from PHP11.29bn to PHP16.87bn (US$303.19m).&nbsp;<\/p>\n\n\n\n<p>For 2023, PAGCOR announced a target of&nbsp;<strong>PHP244.84bn (US$4.5bn)&nbsp;<\/strong>in GGR. The target is 33.1 per cent higher than last year\u2019s target and 14.2 per cent higher than the 2022 GGR. In 2022, the Philippine casino sector generated a GGR of just over PHP184.00bn, an increase of 90.6 per cent from 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gross gaming revenue was PHP59.26bn (US$1.06bn) in the first quarter.<\/p>\n","protected":false},"author":176,"featured_media":18526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines reported a robust Q1 GGR of PHP59.26bn (US$1.06bn), marking an 80.9% year-on-year increase, primarily driven by private casino resorts in Manila's Entertainment City and the Clark Freeport Zone. PAGCOR also reported significant growth in its net income and gaming operations revenue, setting an ambitious GGR target of PHP244.84bn for 2023.","focusai_entities":"PAGCOR","focusai_location":"The Philippines, Manila, Clark Freeport Zone","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.7), operator_casino (0.98), marketing_crm (0.7), payments_fraud_aml (0.75), investor_analyst (0.98), supplier_vendor (0.9), journalist_researcher (0.95)","focusai_suggestions":[{"label":"GGR Growth Drivers?","query":"What specific operational or market factors are primarily driving the exceptional year-on-year GGR growth in the Philippines, particularly within the private casino resort segment?"},{"label":"PAGCOR's 2023 Outlook?","query":"Given the Q1 performance, what are the key strategic initiatives PAGCOR plans to implement to achieve its ambitious PHP244.84bn GGR target for 2023, and what are the potential headwinds?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23907],"class_list":["post-777005167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005167","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=777005167"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005167\/revisions"}],"predecessor-version":[{"id":777005191,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005167\/revisions\/777005191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18526"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}