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PH GGR for 2023 is projected to be 5% better than pre-pandemic rates

December 1, 2023 Philippines Casino & HotelIndustry Updates

For the whole year 2023, gross gaming revenue (GGR) in the Philippines is anticipated to reach between “US$5.0 billion and US$5.2 billion,” according to GCG Gaming Advisory Services Pty Ltd. This range suggests a result that is “at least 5%” higher than the US$4.84 billion achieved in 2019, the pre-pandemic business year. The estimate includes state-run casinos, commercial casinos in Entertainment City Manila, Clark, Cebu, and other locations, as well as non-casino bingo and electronic gaming parlors.

Even though the updated estimate for 2023 is less than the previously suggested range of “US$5.2 billion to US$5.9 billion,” GCG Gaming Advisory Services still anticipates surpassing the record GGR of US$1.26 billion in the fourth quarter of 2019. The company predicts a rise in Korean consumer trips in the fourth quarter of this year along with a gradual comeback of Chinese visitors.

The US$1.24 billion national GGR for the third quarter of 2022 was a little rise over the US$1.19 billion recorded in the same period of 2022. Fearing that Entertainment City’s third-quarter GGR would be 5.7% less than that of the first quarter of 2023 due to the market’s local concentration and the absence of Chinese junket play, GCG Gaming Advisory Services expressed concern.

According to current projections, the combined Entertainment City GGR for 2023 would fall between “US$3.2 billion and US$3.4 billion,” maybe matching or marginally exceeding the US$3.23 billion level from 2019. The opening of Westside City in the next year is probably going to draw more players to the commercial casino industry in Manila.

With GGR for the first three quarters of 2023 reaching US$450.64 million, or 19% of Entertainment City’s total, Clark is highlighted as the Philippines’ growth story. As to the consultant, Clark’s casinos are anticipated to generate around US$640 million in gross gaming revenue in 2023.

In Cebu’s commercial casino sector, which comprises NUSTAR Resort and Casino, GCG Gaming Advisory Services projects GGR of “US$40 million to US$50 million” for the whole year 2023. The company estimates that by 2027, the Philippine gaming industry might produce “US$10 billion” in gross gaming revenue annually.

Original story by: GGRAsia

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