{"id":777015247,"date":"2024-05-06T09:49:52","date_gmt":"2024-05-06T12:49:52","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015247"},"modified":"2026-04-22T10:33:24","modified_gmt":"2026-04-22T13:33:24","slug":"philippines-ggr-to-grow-at-least-15-this-year-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-to-grow-at-least-15-this-year-analysts-say","title":{"rendered":"Philippines GGR to grow at least 15% this year, analysts say"},"content":{"rendered":"\n

Maybank Securities says growth will be mainly driven by the domestic mass and slots market.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Maybank Securities has forecast\u00a0a 15\u00a0per cent\u00a0increase in gross gaming revenue (GGR)\u00a0this year. Analysts attributed the GGR growth to the domestic mass and slots market. They anticipate growth outside of Entertainment City resorts driven by\u00a0the Solaire Resort North opening<\/a>\u00a0and a rise in e-gaming.\u00a0<\/p>\n\n\n\n

Last year, GGR in the Philippines, including non-casino operations, was\u00a0up 33 per cent year-on-year<\/a>\u00a0to PHP285bn (US$5.1bn).\u00a0Casinos remained the primary revenue contributors, accounting for PHP207.5bn (US$3.7bn), followed by the electronic games sector with PHP58.16bn (US$1.04bn). Commercial casinos licensed by PAGCOR contributed PHP19.62bn (US$352m) to the overall GGR.<\/p>\n\n\n\n

Entertainment\u00a0City’s\u00a0GGR in the financial year 2023\u00a0was made up\u00a0of\u00a064 per cent combined mass tables and slot machines, indicating a continued rise in domestic demand. Maybank\u00a0said it\u00a0expects this trend in mass and slots GGR to continue, driven by an increase in private consumption, which should prove beneficial for operators as hold rates for mass and slots are historically less volatile and provide higher margins compared to the VIP segment.\u00a0<\/p>\n\n\n\n

Analysts also stated they expect the VIP contribution to industry GGR to remain down as Chinese arrivals remain down against 2019. Korean visitors\u00a0are expected\u00a0to lead the VIP\u00a0segment’s\u00a0gradual recovery, with arrivals\u00a0already\u00a0reaching 459,000 in the first three months of 2024, 88 per cent of first-quarter 2019 levels.\u00a0<\/p>\n\n\n\n

See also:\u00a0<\/strong>PAGCOR reports net income of US$437.9m for\u00a0Q1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Maybank Securities says growth will be mainly driven by the domestic mass and slots market.<\/p>\n","protected":false},"author":176,"featured_media":20663,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Maybank Securities forecasts a 15% increase in the Philippines' Gross Gaming Revenue (GGR) for 2024, primarily driven by the domestic mass and slots market, alongside e-gaming expansion and the Solaire Resort North opening. This growth is supported by a 33% year-on-year GGR increase in 2023, with mass and slots contributing significantly to Entertainment City's performance, offering higher margins and less volatility for operators compared to the subdued VIP segment.","focusai_entities":"Maybank Securities, Solaire Resort North, PAGCOR","focusai_location":"The Philippines, Entertainment City","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (1.0), affiliate_publisher (0.7), product_ux (0.7), marketing_crm (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Mass Market Sustainability","query":"What specific policy initiatives or economic indicators are Maybank Securities factoring into their projection for sustained domestic private consumption driving mass and slots GGR?"},{"label":"VIP Segment Recovery","query":"Beyond Korean visitors, what are the anticipated timelines and contributing factors for a broader recovery of the VIP segment, particularly regarding the return of Chinese high-rollers, and how might this impact overall GGR mix?"}],"footnotes":""},"categories":[163,16333],"tags":[23907],"class_list":["post-777015247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015247","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=777015247"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015247\/revisions"}],"predecessor-version":[{"id":777015256,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015247\/revisions\/777015256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20663"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}