Licensed casinos in the Philippines generated gross gaming revenues of Php51.2 billion (US$934 million) in the three months to 31 December 2022, representing a 94.6% year-on-year improvement and also 14.4% higher than the September 2022 quarter.
According to information published Monday by gaming regulator PAGCOR, 4Q22 revenues included Php44.1 billion (US$805 million) from Manila’s Entertainment City casinos – comprising City of Dreams Manila, Okada Manila, Newport World Resorts and Solaire – up 15.2% over Q3. Clark casinos also booked an 11.3%. increase in GGR to Php6.78 billion (US$124 million) although Fiesta declined slightly to Php369.7 million (US$6.7 million).
Total GGR from PAGCOR operated casinos in 4Q22 was Php4.83 billion (US$88 million), up from Php2.23 billion (US$41 million) in the prior year period and from Php4.63 billion (US$85 million) in 3Q22.
The Q4 results mean Philippines licensed casinos have now booked six consecutive months of rising GGR, aided by the easing of COVID-19 restrictions from late 2021. Authorities also opened the nation’s borders reopened to international tourists in February 2022, eased capacity restrictions in March and dropped all lockdowns in April.
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