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Business

Philippine gaming revenues up 30% in Q1

Elijah Felice Rosales - The Philippine Star

MANILA, Philippines — The country’s gambling industry ignored the spread of the Omicron variant in the first quarter, growing its gross gaming revenue (GGR) to more than P39 billion during the period.

In a report, state-run Philippine Amusement and Gaming Corp. (PAGCOR) said the GGR of the industry rose by 30 percent to P39.15 billion in the first quarter from P30.03 billion a year ago.

Casinos accounted for the bulk of the GGR, posting a 30 percent jump in revenues to P30.15 billion in the first quarter from P23.27 billion in the same period last year. Entertainment City raised P26.89 billion, Clark generated P3.01 billion, while Fiesta earned P243.96 million.

PAGCOR-owned games registered a six percent increase in   earnings to P2.62 billion from P2.48 billion. Slot machines accounted for the bulk with P1.64 billion, followed by table games (P808.23 million) and junket (P139.83 million).

PAGCOR also earned P14.68 million from its in-house bingo and another P11.27 million from its poker plays.

According to PAGCOR, revenues raised by other licensees, such as electronic games, went up by 49 percent   to P6.39 billion in the first three months from P4.29 billion in the same period last year.

Broken down, contributions to the GGR amounted to P3.48 billion from bingo operations, P1.24 billion from electronic games, and P1.67 billion from electronic sabong.

Malacañang on May 3 issued a memorandum suspending e-sabong activities across the Philippines.   PAGCOR directed all e-sabong licensees to take down their web sites, including accredited auxiliary operations and off-cockpit betting stations, in compliance with the order.

Despite the growth, the industry’s GGR in the first quarter has yet to bounce back to the pre-pandemic level of more than P60 billion during the same period in 2019.

GAMING

PAGCOR

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