The Philippines gaming industry recorded gross gaming revenues of Php68.8 billion (US$1.24 billion) in the three months to 30 September 2023, representing a 20.1% year-on-year increase and slightly higher than the Php67.4 billion (US$1.22 billion) reported in Q2.
According to figures released overnight by gaming regulator PAGCOR, the result was in part driven by the growth of casinos in Clark, where GGR was up 45.8% year-on-year and 13.0% quarter-on-quarter to Php8.89 billion (US$160 million).
However, Entertainment City casinos saw a very slight sequential decline in GGR to Php42.7 billion (US$770 million). Total licensed casinos, which include Clark, Entertainment City and Fiesta, saw combined GGR climb by 0.4% to Php51.9 billion (US$936 million).
PAGCOR operated casinos were also largely flat quarter-on-quarter with GGR of Php4.94 billion (US$89.1 million), while bingo operations and electronic games generated GGR of Php11.9 billion (US$215 million), up from Php10.8 billion (US$195 million) in the June quarter.
The strong 3Q23 results for the Philippines gaming industry come after PAGCOR Chairman and CEO Alejandro Tengco said recently he expects GGR generated by the industry in 2023 to exceed pre-COVID levels, buoyed by the strength of the domestic market with a little help from first-time tourists.
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