Philippines gaming regulator PAGCOR reported a 95.7% decline in revenue from the nation’s casinos in the second quarter of 2020, with GGR crawling to just Php2.27 billion (US$46.8 million) compared with Php52.30 billion (US$1.08 billion) over the same period in 2019.
The decline comes after Philippines President Rodrigo Duterte issued in March a community quarantine order for the entire main island of Luzon, effectively shutting down the casino industry before some venues outside of Metro manila were allowed to reopen from May.
However, casinos within the National Capital Region had until recently remained closed under Manila’s General Community Quarantine restrictions, other than performing some limited “dry run” gaming operations from June. Manila’s integrated resorts operators were earlier this month granted permission by PAGCOR to resume operations at 30% capacity.
According to the latest financial information published by PAGCOR, private-sector casinos generated GGR of Php2.16 billion (US$44.6 million) in 2Q20 of which Php1.96 billion (US$40.5 million) came from Manila’s integrated resorts – namely City of Dreams Manila, Okada Manila, Resorts World Manila and Solaire Resort & Casino. Junket play in private-sector properties fell from Php1.69 billion (US$34.9 million) to Php129.8 million (US$2.7 million).
PAGCOR’s Casino Filipino properties generated just Php88 million (US$1.8 million), down from Php9.07 billion in 2Q19 (US$187.2 million).
The regulator reported in July a loss of Php1.60 billion (US$32.5 million) for the six months to 30 June 2020, down from a net income of Php777.4 million (US$15.8 million) in the first three months of 2020, suggesting a loss of Php2.38 billion (US$48.4 million) during the second quarter.
