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Business

Gaming revenue doubles to P57 billion in 3rd quarter

Louise Maureen Simeon - The Philippine Star

MANILA, Philippines — The local gaming industry continues to recover from the pandemic as the economy gradually reopens, with gross gaming revenue (GGR) more than doubling to P57 billion in  the third quarter.

Data from state-run Philippine Amusement and Gaming Corp. (Pagcor) showed the industry’s GGR soared by 113 percent to P57.28 billion in July to September 2022 from just P26.86 billion in the same period last year.

Casinos still accounted for the huge chunk of GGR at 78 percent, posting a 105 percent hike in revenue to P44.75 billion in the third quarter.

Pagcor-owned games also more than doubled to P4.63 billion from just P1.68 billion in the comparative period in 2021.

Slot machines secured the bulk with P2.37 billion, followed by table games at P1.77 billion and junket with P443 million.

Further, Pagcor earned P24.72 million from in-house bingo and another P20.33 million from poker plays, both onsite and offsite.

Revenue raised by other licensees likewise jumped by 132 percent to P7.9 billion in the third quarter from P3.41 billion a year ago.

Broken down, contributions to the GGR amounted to P5.7 billion from bingo operations and P2.19 billion from electronic games. No revenue was recorded from electronic sabong following its suspension last May.

The previous administration banned e-sabong activities nationwide, directing all licensees to take down their web sites, including accredited auxiliary operations and off-cockpit betting stations.

For the three quarters ending September, GGR of the industry reached P149 billion, almost doubling from P78.57 billion in the three quarters of 2021.

PHILIPPINE AMUSEMENT AND GAMING CORP

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