GGRAsia – Philippines casino GGR up 15 pct in 2Q: Pagcor

Philippines casino GGR up 15 pct in 2Q: Pagcor

Oct 20, 2017 Newsdesk Latest News, Philippines, Top of the deck

The Philippines casino industry reported gross gaming revenue (GGR) of PHP39.15 billion (US$759.4 million) in the second quarter of 2017, up by 14.5 percent from the prior-year period, said the country’s gaming regulator.

Nationwide casino GGR for the first half of 2017 was PHP75.92 billion, an increase of 15.7 percent in year-on-year terms, according to data released this week by the Philippine Amusement and Gaming Corp (Pagcor).

In the second quarter, revenue from electronic gaming sites – including traditional bingo, electronic games and sports betting – reached PHP6.17 billion. Aggregate national GGR – for electronic gaming sites and casinos combined – was PHP45.31 billion in the three months to June 30, up by 10.8 percent year-on-year.

Private-sector casino resorts in the Philippines capital Manila recorded overall GGR of PHP28.48 billion in the second quarter, an increase of 25.9 percent compared to PHP22.62 billion in the prior-year quarter.

Manila’s private-sector casino resort sector includes four properties, namely: City of Dreams Manila, run by a subsidiary of Melco Resorts and Entertainment Ltd; Solaire Resort and Casino (pictured), controlled by Bloomberry Resorts Corp; Resorts World Manila, owned and operated by Travellers International Hotel Group Inc, a venture between Philippine-based Alliance Global Group Inc and Genting Hong Kong Ltd; and Okada Manila, owned and operated by Tiger Resort, Leisure and Entertainment Inc, a subsidiary of Japanese gaming conglomerate Universal Entertainment Corp.

The data released this week marked the first time Pagcor disclosed GGR data for the country’s casino industry since reporting in November last year the figures for the third quarter of 2016.

The latest data showed GGR generated by the casino junket segment stood at PHP21.79 billion for the first half of 2017, representing 28.7 percent of total casino GGR for the period. The majority of junket-generated casino GGR was recorded in the private-sector casinos, rather than the Pagcor-run ones.

In the first half of 2017, “non-junket” GGR represented 38.3 percent of the total, while electronic gaming machines claimed a market share of 33.0 percent.

Aside from being the sector’s regulator, Pagcor directly operates a suite of state-run casinos. Its own brand of casinos is called “Casino Filipino”. According to the latter’s website, the brand operates venues in 8 locations across the country, and has a further 34 so-called “satellite” sites across the Philippines.

Pagcor casinos reported GGR of PHP8.38 billion in the second quarter of 2017, up by 4.5 percent in year-on-year terms, show the firm’s latest data.

Philippine Finance Secretary Carlos Dominguez said last month that the country’s government expected to sell 17 casinos currently operated by Pagcor in a first round of disposals due to begin in 2018. Following the announcement, Bloomberry’s chairman and chief executive, Enrique Razon, has said his firm would be interested in acquiring some regional casino operations from Pagcor.