Philippine casinos saw a strong first quarter driven by domestic demand and Korean VIPs.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Maybank Securities has forecast a 15 per cent annual increase in gross gaming revenue (GGR) <\/strong>over the medium term for The Philippine gaming sector. Analysts Miguel Sevidal<\/strong> and Alexa Mae Carvajal <\/strong>cited robust domestic demand as the primary driving force.<\/p>\n\n\n\n The Philippine casino sector’s gross gaming revenue in the first quarter was up 80.9 per cent year-on-year<\/a> from PHP32.75bn (US$ 626.9m) to PHP59.26bn (US$1.06bn). That’s a rise of 5.8 per cent quarter-on-quarter<\/a>.<\/p>\n\n\n\n Maybank’s report emphasised the significance of mass-market tables and slot machines, which accounted for 59 per cent of industry GGR in the first quarter. This reinforces the notion that revenue is primarily driven by domestic demand.<\/p>\n\n\n\n The analysts highlighted potential for growth in mass-market and slot machine revenues<\/strong>, supported by the country’s below-average GGR per capita and the rising share of Entertainment City casinos in entertainment spending. They also anticipated a boost to GGR from the re-emergence of the VIP segment<\/strong>, led by Korean high-rollers. <\/p>\n\n\n\n Analysts said Korean tourists had been instrumental in driving the recovery of the segment, with arrivals reaching 552,000 in the first five months of 2023<\/strong> \u2013 approximately 70 per cent of the same period in 2019. This surge has compensated for the relatively slow recovery of Chinese arrivals.<\/p>\n","protected":false},"excerpt":{"rendered":" Philippine casinos saw a strong first quarter driven by domestic demand and Korean VIPs.<\/p>\n","protected":false},"author":176,"featured_media":27875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Philippine casinos reported a robust Q1 GGR of PHP59.26bn, an 80.9% YoY increase, primarily driven by strong domestic mass-market demand. Maybank Securities forecasts a 15% annual GGR growth medium-term, further bolstered by the re-emergence of Korean VIPs, compensating for slower Chinese market recovery. This indicates sustained operational momentum and potential for further market penetration.","focusai_entities":"Maybank Securities, Miguel Sevidal, Alexa Mae Carvajal","focusai_location":"Philippines, Korea, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), affiliate_publisher (0.7), marketing_crm (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Growth Sustainability?","query":"What specific policy or infrastructure developments are anticipated to sustain the 15% annual GGR growth forecast, particularly concerning the expansion of mass-market penetration and VIP segment recovery beyond Korean high-rollers?"},{"label":"Market Share Dynamics?","query":"How are the rising GGR contributions from Entertainment City casinos impacting the competitive landscape and market share dynamics among established and emerging operators within the Philippine gaming sector?"}],"footnotes":""},"categories":[163,158,16333],"tags":[23907],"class_list":["post-777006736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006736","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=777006736"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006736\/revisions"}],"predecessor-version":[{"id":777006775,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006736\/revisions\/777006775"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/27875"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}