Philippines – Philippine casino revenues increase for seventh consecutive quartersBy Phil - 12 May 2023
Casino revenues in the Philippines continue to find momentum, increasing in the first quarter of 2023 to reach Php68.9bn (US$1.24bn), marking seven consecutive quarters of increasing revenues.
Gaming regulator PAGCOR revealed that revenues generated from its own PAGCOR-branded casinos in the first quarter was Php5.13bn (US$92m), more than doubling from the Php2.62bn (US$47m) in the first quarter of 2023. Other casinos in the country, including Manila’s Entertainment City and the Clark Freeport Zone but excluding PAGCOR casinos, was Php54.2bn (US$973m), an increase of 80 per cent year-on-year . Quarter by quarter the increase see a steady rise of 5.7 per cent.
Of this total, Entertainment City’, including Okada Manila, City of Dreams Manila, Newport World Resorts, Okada Manila and Solaire, generated Php45.4bn (US$815m) in GGR, marking a 69 per cent increase over the first quarter of 2022. In Clark casinos generated Php8.29bn (US$149m), marking a 175 per cent increase, with Fiesta bringing in Php421.6m (US$7.6m).