Philippines 3Q casino GGR up 8pct q-o-q to US$861mln

The Philippine casino sector produced gross gaming revenue (GGR) of just above PHP49.36 billion (US$860.7 million) in the third quarter of 2022, up by 7.6 percent from the previous quarter. The tally rose by 110.4 percent in year-on-year terms.

That is according to the latest quarterly data released on Monday by the country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor). The body does not provide commentary on the data.

The casino GGR figure excludes revenue from bingo operations, electronic games parlours and from “e-sabong” betting business, the latter involving cockfighting events presented online.

The private-sector casino resorts – including in Manila’s Entertainment City – produced about 90.7 percent of all industry GGR in the three months to September 30, i.e., PHP44.75 billion. The figure was up 6.3 percent quarter-on-quarter. It represented an increase of 105.5 percent in year-on-year terms.

At Pagcor-operated casinos, aggregate revenue (excluding in-house bingo) in the three months to June 30 was PHP4.63 billion, up 21.6 percent from the preceding quarter.

Third-quarter table games GGR at Pagcor-run casinos reached PHP1.77 billion, up 34.2 percent from the previous quarter. Slot GGR rose by 11.9 percent quarter-on-quarter, to nearly PHP2.37 billion.

State-run Pagcor, an operator of publicly-owned casinos as well as the regulator for the country’s entire casino industry, reported net income of nearly PHP104.9 million in the three months to September 30, according to data published in late October.