GGRAsia – Philippines 3Q casino GGR up 25pct q-o-q to US$469mln

Philippines 3Q casino GGR up 25pct q-o-q to US$469mln

Nov 09, 2021 Newsdesk Latest News, Philippines, Top of the deck

The Philippine casino sector produced gross gaming revenue (GGR) of nearly PHP23.46 billion (US$467.9 million) in the three months to September 30, up by 24.8 percent on the PHP18.80 billion generated in the second quarter. The figure excludes revenue from bingo operations and from electronic game parlours.

That is according to data released on Tuesday by the country’s casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), based on information submitted by Pagcor to the nation’s Governance Commission for Government-owned or Controlled Corporations.

The latest data took the casino GGR tally industry-wide of the first nine months of this year to nearly PHP68.0 billion.

Manila’s Entertainment City casinos produced about 82.6 percent of all industry GGR in the third quarter, i.e., nearly PHP19.37 billion. The figure was up 32.0 percent quarter-on-quarter, on the almost PHP14.67 billion GGR that Entertainment City properties generated in the April to June period of 2021.

The cluster of casinos in the Clark Freeport Zone, also on the country’s main island, Luzon, generated nearly PHP2.31 billion GGR in the third quarter, up by 3.1 percent on the PHP2.24 billion generated in the second quarter.

The two Thunderbird Resorts and Casinos gaming properties, under the Fiesta brand at respectively Poro Point on the northwest coast of Luzon, and Rizal, in central Luzon, saw a sequential rise in GGR in the third quarter. Such GGR rose 15.8 percent quarter-on-quarter, to nearly PHP100.7 million, from PHP86.9 million.

At Pagcor-operated casinos, aggregate revenue in the three months to September 30 was PHP1.68 billion, down 6.6. percent from the preceding quarter. Third-quarter table games GGR reached nearly PHP485.35 million, flat from the previous quarter.

Pagcor-run slot GGR was down 11.1 percent quarter-on-quarter, at PHP949.58 million, from just under PHP1.07 billion in the second quarter.

The corporation’s own junket GGR performance in the third quarter was PHP244.27 million, a modest increase from the previous quarter.