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Philippines gaming industry generates $1.24 billion GGR in 3Q23
Friday 24th of November 2023
The gross gaming revenue (GGR) for the casino sector in the Philippines during the third quarter totaled PHP68.8 billion ($1.24 billion), marking a 20.1 percent yearly increase. This figure is slightly higher than the PHP67.4 billion ($1.22 billion) reported in 2Q23.
According to figures released by the Philippines Amusement & Gaming Corp. (PAGCOR), revenue from licensed casinos reached PHP51.9 billion ($937 million) in the quarter, surpassing the PHP51.7 billion ($933 million) recorded in 2Q23.In Entertainment City, casino GGR slightly decreased by 1.8 percent from PHP43.5 billion ($785 million) to PHP42.7 billion ($771 million) compared to the previous quarter.
Casinos in Clark gained momentum, with GGR in this area increasing by 14 percent from PHP7.8 billion ($141 million) in 2Q23 to PHP8.9 billion ($161 million).
PAGCOR figures also revealed that PAGCOR-operated casinos generated a total of PHP4.9 billion in revenue in 3Q, maintaining similar levels as reported in 2Q this year.
Revenue from electronic games reached PHP6.3 billion ($114 million) in 3Q23, marking a 28 percent increase from the previous quarter.
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