Operator News
Philippines – Licensed casinos up 14 per cent quarter-to-quarter in the Philippines
By Phil - 6 March 2023
PAGCOR, the Philippine casino operator and regulator, has confirmed that licensed casinos surged in the three months to December 31, producing US$934m in GGR, which was up 94.6 per cent compared to the same quarter in 2022 and 14.4 per cent up from the sequential September quarter.
This marks six consecutive months of rising revenues for the Philippines licensed casino sector.
Manila’s Entertainment City casinos made up of City of Dreams Manila, Okada Manila, Newport World Resorts and Solaire generated US$805m of that total, marking an increase of 15.2 per cent over the previous quarter. Clark casinos saw a 11.3 per cent increase to US$124m. PAGCOR-run casinos came in at US$88m, doubling the US$41m from the same quarter last year and up from the US$85m generated in the previous quarter.
This follows on from PAGCOR’s record-breaking year in 2022 when GGR reached P58.96bn, a 66.16 per cent increase compared to its P35.48bn total income in 2021.
PAGCOR Chairman and CEO Alejandro Tengco said: “Since the lockdowns were eased in the country and gaming venues reopened, customer confidence slowly returned and the attendance in our owned casinos slowly improved. Our licensed casinos likewise recorded a major revenue growth.”
