Land-based gaming in the Philippines experienced significant growth in the first quarter of 2023, with gross gaming revenue (GGR) reaching PHP2.61bn. This represents a substantial increase of 30.3% compared to the same period in 2021. The quarter saw steady growth in GGR, with March registering the highest amount at PHP13.94bn, followed by PHP13.1bn in February and PHP12bn in January. Licensed casinos contributed PHP30.14bn to the overall revenue, with Entertainment City accounting for the majority of the earnings at PHP26.88bn.
Land-Based Casino Revenue:
Licensed casinos reported a year-on-year GGR increase of 29.5%, amounting to PHP30.14bn in the first quarter. The primary contributor to this revenue was Entertainment City, generating PHP26.88bn. The Clark casino and the Fiesta casino also contributed PHP3.01bn and PHP243.9m, respectively.
PAGCOR’s Contribution:
The Philippine Amusement and Gaming Corporation (PAGCOR) generated PHP2.61bn in GGR for the quarter, representing a 5.7% increase. Slot machines accounted for the majority of PAGCOR’s revenue, reaching PHP1.64bn. Table games revenue amounted to PHP808.2m, while junket operations and in-house bingo generated PHP139.8m and PHP14.6m, respectively. Poker revenue contributed PHP11.2m. Additionally, other licensed activities, including bingo operations and electronic sabong (online cockfighting bets), generated PHP3.48bn and PHP1.66bn in revenue, respectively. Notably, the recent order by President Duterte to end e-sabong may impact future revenue from this segment.
Other Electronic Games:
Revenue from other electronic games, apart from slot machines, reached PHP1.24bn during the quarter.
Land-based gaming in the Philippines showcased strong growth in the first quarter of 2023, with GGR increasing by 30.3% compared to the previous year. Licensed casinos, especially those in Entertainment City, played a significant role in driving revenue, contributing PHP30.14bn. PAGCOR’s revenue also experienced growth, with slot machines leading the way. However, the future impact of the ban on e-sabong, as directed by President Duterte, remains to be seen. As the land-based gaming industry in the Philippines continues to evolve, it will be essential to monitor the regulatory landscape and consumer preferences to ensure sustained growth in the sector.