The Philippines gaming industry saw its recent momentum slow in the three months to 30 June 2023, with gross gaming revenues falling by 2.2% quarter-on-quarter to Php68.9 billion (US$1.22 billion).
The decline was largely on the back of the country’s licensed casinos, which saw GGR fall by 4.5% to Php51.71 billion (US$917 million).
According to information from gaming regulator PAGCOR, Entertainment City casinos – comprising City of Dreams Manila, Newport World Resorts, Okada Manila and Solaire – saw their 2Q GGR decline by 4.3% to Php43.47 billion (US$771 million) while Clark casinos fell by 5.1% to Php7.86 billion (US$139 million). Fiesta was down by 11.3% to Php374.0 million (US$6.6 million).
PAGCOR casinos also saw their revenues decline compared to the March 2023 quarter, with GGR down 3.8% to Php5.13 billion (US$90.9 million).
Despite the sequential decline, GGR across the board was improved versus the same period in 2022. Licensed casinos were up by 22.8% year-on-year and PAGCOR casinos by 29.6%, helping industry-wide GGR improve by 28.3% in 2Q23 compared with 2Q22.
For the first six months of 2023 combined, Philippines gaming industry GGR sits at Php136.4 billion (US$2.42 billion).
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