The Philippine casino segment continued to grow in the fourth quarter of 2022, generating nearly 56.01 billion PHP ($1.02 billion) in gross gaming revenue (GGR) as of Dec. 31. The level exceeds Q3’s figure by 13.5%, representing a revenue value of 96.2% higher than what was achieved during the same period last year. However, figures representing revenue from the casino industry do not include bingo, electronic games and “e-sabong” (online chicken fight) betting operations.
GGR reached $3.34 billion:
GGRAsia’s latest release includes total gaming revenue generated by the casino industry for all of 2022. According to the report, the sector’s overall handling in the Philippines is approximately 148 billion PHP ($3.34 billion), a whopping 90.6% more than the level of PHP ($96.55 billion) in 2021. Our sources also report that the data was released Monday by the national gaming authority, the Philippine Playgame Corporation (Pagcor), but was not mentioned by regulators.
GGR increased by more than 96% in Q4 2022:
Manila Entertainment City’s privately owned casino facilities participated with a share of approximately 78.7% (PHP 440.6 billion) in overall casino industry handler production in the fourth quarter. Activity at these facilities accounted for 15.2% growth over the third quarter of 2022.
Additionally, both the commercial casino group located in the Clark Freeport Zone and the casino group located on the main island of Luzon contributed to overall growth in the fourth quarter, generating nearly $6.78 billion in total gaming revenue. Once again, the figure was up 11.3% compared to the previous quarter.
Overall Casino Industry Growth:
From Oct. 1 to Dec. 31, total sales at casinos operated by Pagcor amounted to about $4.8 billion in PHP, which recorded growth of 4.3% in the past three months. Likewise, non-VIP table games generated $1.79 billion in total gaming revenue, up 1.1% in value compared to the third quarter. However, the GGR of public market slot machines operated by Pagcor fell 1.2% to about $2.34 billion in the fourth quarter.
Main Players of Manila Entertainment City:
Throughout 2022, casino resorts in Entertainment City generated approximately 146.21 billion PHP ($2.66 billion) from total gaming revenue, or 79.5% of the total GGR generated by the Philippine casino industry last year. For facilities operated by Pagcor, the total GGR in 2022 amounted to PHP 15.79 billion, with more than 50% or nearly 8.47 billion PHP produced by public market slot machines.
Fast-growing trend:
After capacity restrictions eased in the last quarter of 2021, the casino sector in the Philippines, including major entertainment city resorts, recorded continued growth in 2022, reaching nearly 91% year-over-year levels. However, total gaming revenue generated by the industry in the fourth quarter of 2022 increased 96.2% year-over-year and accounted for more than 30% of the total GGR generated in 2022, proving that the casino sector in the Philippines is growing fast.
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