Philippine industry GGR soars in Q2

| By Nosa Omoigui
The Philippine Amusement and Gaming Corporation (PAGCOR) has recorded revenue figures of PHP20.88bn (£304.7m/€355.3m/$414.8m) for the entire Philippine gaming industry, climbing 762.5% year-on-year.

Of this total, PHP1.80bn came from PAGCOR’s own operations, representing a 727.6% increase on the same period in 2020.

Slot games were the biggest contributor to this revenue total, bringing in PHP1.07bn – 2062.8% from 2020. Table games generated PHP486.2m while casino junkets brought in PHP243.5m. Poker generated PHP1.8m having been unavailable in 2020, whilst in-house bingo revenue was PHP1.8m.

Revenue from the PAGCOR-regulated gaming industry also rose sharply, accounting for PHP16.99bn. Venues located Entertainment City brought in PHP14.67bn, casinos in Clark generated PHP2.24bn, and Fiesta Casino’s revenue came to PHP86.9m.

Other licencees contributed PHP2.08bn, with bingo operations totaling PHP1.57bn and electronic games adding PHP513.6m.

Half-year revenue for the combined gaming industry amounted to PHP50.90bn, down from PHP55.34bn in 2020.

PAGCOR’s half year revenue total from its own operations stands at PHP4.28bn, down from PHP7.90bn at the same point in 2020.

Licensed operators, meanwhile, brought in PHP40.26bn.

The quarter saw PAGCOR permit domestic online gambling for the first time. In April, it allowed Tiger Resort, Leisure and Entertainment, operator of the Philippines’ Okada Manilla Resort to offer its online services within the country. Earlier this week, PAGCOR granted an online distribution licence to Jade Entertainment.

Subscribe to the ICE365 newsletter