GGRAsia – Ent City Manila maybe US$4bln GGR in 2023: consultancy

Ent City Manila maybe US$4bln GGR in 2023: consultancy

Mar 09, 2023 Newsdesk Latest News, Philippines, Top of the deck

The commercial casinos of the Entertainment City zone in the Philippine capital Manila (pictured), could generate gross gaming revenue (GGR) in the range of “US$3.8 billion to US$4.2 billion” for 2023, i.e., at least 46 percent more than in 2022, suggests industry consultancy GCG Gaming Advisory Services Pty Ltd.

Entertainment City encompasses Solaire Resort and Casino, Okada Manila, City of Dreams Manila and Newport World Resorts.

The casino GGR tally industry-wide in the Philippines for full-year 2022 reached PHP184.00 billion (US$3.33 billion), of which 79.5 percent – i.e., PHP146.21 billion, or about US$2.6 billion – was generated by the casino resorts at Entertainment City. That is according to fourth-quarter and full-year 2022 data released on Monday by the country’s casino regulator, the Philippine Amusement and Gaming Corp (Pagcor).

GCG Gaming Advisory Services maintained its view that Philippine-market GGR would be on a similar footing to Singapore, over the next few years.

“The 2024 opening of Westside City in Manila’s Entertainment City and several more casinos in Clark in the planning stages for 2025-2026 openings, will assist the growth, as will the increase in Chinese and [South] Korean junkets,” wrote GCG Gaming Advisory Services in a memo. The consultancy suggested the Philippines casino market could have annual GGR of “US$10 billion” for full-year 2027.

Commercial casinos operating in Clark Freeport and Special Economic Zone south of the capital are at: Royce Hotel and Casino; Hann Casino Resort; D’Heights Resort and Casino; Fortunegate Clark; Fontana Leisure Parks and Casino; and Capital Casino Clark.

GCG Gaming Advisory Services thinks annual GGR for the casino cluster at Clark, could range from “US$550 million to US$650 million” for 2023.

“In Clark, Royce Casino will ramp up its offering these next few months,” said the consultancy.

“We expect the 2023 GGR [of Clark] to be Hann Casino, D’Heights and Royce in the top three positions, with these properties claiming up to 75 percent of the estimated US$550 million to US$650 million market,” wrote GCG Gaming Advisory in its latest note.