Philippines licensed casinos reported combined gross gaming revenues of Php23.27 billion (US$400.8 million) in the three months to 31 March 2021, down 39.2% year-on-year but 17.5% higher than the Php19.20 billion (US$400.8 million) recorded in the final quarter of 2020.
According to information published by gaming regulator PAGCOR, integrated resorts located within and near Manila’s Entertainment City precinct – namely Solaire, City of Dreams Manila, Okada Manila and Resorts World Manila – continued their recovery in Q1 with GGR of Php21.12 billion (US$439.0 million), up from Php16.90 billion (US$352.8 million) in 4Q20.
That recovery trajectory has since been halted however, with Manila’s casinos all closing their doors in late March due to quarantine measures imposed to control the latest wave of COVID-19 throughout the National Capital Region.
It was slower going in Clark, where GGR of licensed casinos fell slightly to Php1.88 billion (US$39.1 million) from Php2.0 billion (US$41.6 million) in Q4.
PAGCOR-operated casinos reported a 67.8% year-on-year decline in GGR to Php2.48 billion (US$51.5 million) – largely flat compared with Q4.
Total industry GGR, comprising licensed casinos, PAGCOR-operated casinos, bingo operations and electronic games, fell from Php52.92 billion (US$1.10 billion) in 1Q20 to Php30.03 billion (US$624.2 million), although this was again considerably higher than the Php25.80 billion (US$538.5 million) reported in the final quarter of 2020.
PAGCOR had last week reported a 49.1% year-on-year decline in income from gaming operations in 1Q21 to Php8.36 billion (US$172.8 million).
RelatedPosts
