The Philippines casino industry reported gross gaming revenue (GGR) of PHP34.17 billion (US$695.1 million) in the third quarter of 2016, up by 12.4 percent from the prior-year period, said the country’s gaming regulator.
Nationwide casino GGR for the first nine months of 2016 was PHP99.77 billion, an increase of 19.8 percent in year-on-year terms, said the Philippine Amusement and Gaming Corp (Pagcor).
In the third quarter, revenue from electronic gaming sites reached PHP5.58 billion. Aggregate national GGR – for electronic gaming sites and casinos combined – was PHP39.74 billion in the three months to September 30, up by 11.2 percent year-on-year.
Casino resorts in the Philippines capital Manila recorded overall GGR of PHP22.61 billion in the third quarter, an increase of 19.8 percent compared to PHP18.88 billion in the prior-year quarter.
Manila’s casino resort sector includes three properties, namely: City of Dreams Manila, run by a subsidiary of Melco Crown Entertainment Ltd; Resorts World Manila, owned and operated by Travellers International Hotel Group Inc, a venture between Philippine-based Alliance Global Group Inc and Genting Hong Kong Ltd; and Solaire Resort and Casino, controlled by Bloomberry Resorts Corp.
Bloomberry on Monday reported net profit of approximately PHP1.41 billion for the three months ended September 30. The casino operator said the third quarter produced the “best ever” quarterly VIP volume, mass table drop and electronic gaming machine coin-in for Solaire.
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”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia