PAGCOR Releases Q1 Results, Gambling in the Philippines Shows Recovery
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The first quarter of 2022 has been fruitful for the Philippines as gross gaming revenue has grown by 29.6% compared to the same period last year. The country's land-based gambling operations generated a total of $572.49 million.
The lift on COVID-19 restrictions helped the gambling industry in the Philippines to recover. Licensed casinos generated around PHP23.2 billion ($443.04 million) in Q1. Entertainment City was the number 1 licensed casino in terms of GGR. Slots were the top-ranked generator. Table games, junkets, poker and bingo were also popular.
The Philippines elected a new president, Ferdinand Marcos Jr. He is the son of a dictator who ruled the country until the 1980s. The new President will have to tackle several issues related to the gambling industry in the Philippines. Rodrigo Duterte halted cockfighting. The president will also have the responsibility to decide whether gaming expansions in Philippines will continue.
