Philippines gross gaming revenue climb 20% to P68.79B in 3Q–data 

The gaming industry generated gross gaming revenue of P68.79 billion in the third quarter, a 20 percent growth from the year-earlier period as improved mobility after the pandemic pushed gains of licensed casinos while rising popularity boosted income from electronic games,  industry data from the Philippine Amusements and Gaming Corp. showed.

The third quarter GGR, which is total bets minus the total payouts, reached at P205.15 billion, on track to exceed the P214.34 billion total for the whole of 2022 and the PAGCOR’s full-year target of 244.84 billion for 2023.

PAGCOR was banking on the lifting on the mobility restrictions imposed during the COVID-19 pandemic to boost GGR this year.

GGR delivered in the third quarter by casinos operated by PAGCOR rose 6.7 percent to P4.94 billion this year from P4.63 billion in the previous year while that for bingo declined 1.4 percent year-on-year to P5.62 billion.

By contrast, casinos licensed by PAGCOR and electronic games, including sports betting, delivered strong gains.

Licenses casinos in Entertainment City, Clark and Fiesta increased GGR in the third quarter by 16 percent to P51.91 billion.

Electronic games, meantime, saw GGR surged nearly three times to P6.33 billion in the third quarter this year from P2.19 billion in the year-earlier period.

In the nine months to September, PAGCOR has reported a 10.4 percent growth in total revenue to P55.95 billion while net income before assistance, subsidy and other contributions increased 11 percent to P37.09 billion.