Philippines gaming regulator PAGCOR has reported income from gaming operations of Php 32.63 billion (US$638.9 million) in the three months to 31 December 2021, up 8.8% on the same period last year and 46.5% higher than the September quarter.
The improved results follow an easing of COVID-19 restrictions across Metro Manila through much of 4Q21 as case numbers declined throughout much of the Philippines.
However, net income of Php203.6 million (US$4.0 million) was down 86.9% year-on-year due to considerably higher gaming taxes and contributions, which totalled Php17.1 billion (US$334.8 million) compared with Php15.7 billion (US$307.4 million) in 4Q20.
In its breakdown of income, the Philippine gaming regulator said it received income from licensed casinos of Php13.86 billion (US$271.4 million) while income from POGOs totalled Php2.59 billion (US$50.7 million).
Following a year of lengthy closures, Manila’s casinos were granted permission to reopen at 30% capacity in mid-October under the Philippines’ new COVID-19 alert level system, although integrated resort operators were reportedly granted permission to operate at a higher capacity pending the implementation of strict COVID protocols.
As reported by Inside Asian Gaming, Manila’s alert level was raised again in early January but IRs were granted special dispensation to operate at 75% capacity.
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