PAGCOR GGR increased by 23.6% compared to previous year

March 22, 2024 Philippines Industry Updates

In 2023, the gross gaming revenue (GGR) of establishments regulated by the Philippine casino regulator had a 23.6% rise, culminating in a total of PHP19.63 billion (US$350.6 million).

The Philippine Amusement and Gaming Corp (PAGCOR) receives money from poker, in-house bingo, and Casino Filipino sites. However, this number is a 47.2% decrease from pre-pandemic levels in 2019.

PAGCOR’s chairman and CEO, Alejandro Tengco, has said that the business intends to begin divesting its Casino Filipino locations in late 2025 or early 2026. In addition, the government plans to lease and install 3,500 brand-new electronic gambling machines from a manufacturer in order to update its slot machine operations. Furthermore, PAGCOR plans to introduce its online casino brand, casinofilipino.com, in the latter part of 2024.

During the ASEAN Gaming Summit, industry experts predicted that Casino Filipino’s online presence would raise the brand’s value, particularly in light of the impending sale of PAGCOR’s casino facilities.

Over PHP285.27 billion was made in 2023 by the nation’s gaming sector, including non-casino activities. This is an increase of 33.1 percent year over year and 11.2 percent above the previous peak set in 2019.

Integrated resorts in Entertainment City, Metro Manila, together with businesses in Clark, Cebu, Rizal, and Poro Point, accounted for a substantial amount of the gaming industry’s revenue in 2023, totaling PHP207.48 billion. Solaire Resort and Casino, owned by Bloomberry Resorts Corp., had the highest GGR, with PHP61.02 billion, followed by Okada Manila, a Universal Entertainment Corp. affiliate, with around PHP44.53 billion.

Outside of Metro Manila, Hann Resorts in Clark produced PHP11.88 billion GGR, while NuSTAR Resort and Casino in Cebu, which opened in 2022, achieved PHP5.51 billion GGR.

The gaming sector in the nation is predicted to bring in PHP336.38 billion in 2024, up 17.9% from 2023, according to PAGCOR’s revenue projections. According to Mr. Tengco’s estimate, the GGR gets PHP61.75 billion from electronically transmitted games and PHP256.63 billion from commercial venues.

Original story by: GGRAsia