Philippine casino GGR sees a 14 drop for Q1 2020

Philippine casinos earned PHP45.40bn ($910.8m) in gross gaming revenue (GGR) for Q1 2020, according to data published by the Philippine Amusement and Gaming Corp (PAGCOR). 

The sum is 14% lower than the same period in 2019, which was PHP52.52bn. 

Casinos operating in Entertainment City, a special zone that serves as a hub for gaming venues in the capital city, produced nearly 74% of all GGR. The venues in Manila earned PHP33.46bn until 31 March, but it’s still 16% less than the earning of the previous year. 

Licensed casinos (operating in the private sector) produce the majority of Philippine GGR, focusing on these categories for income: mass table games; junket play, and electronic gaming machines. 

Overall, mass table play saw a slight increase to PHP16.68bn, up from PHP16.56bn in 2019. Junket play in licensed casinos generated PHP10.13bn, which is 28% lower than revenues in 2019. Electronic machines brought in PHP10.98bn, a 12% drop compared to the previous year. Casino Filipino, PAGCOR owned casinos, experienced a 19% drop in revenues, bringing in PHP7.61bn. 

The drop in revenues was impacted by the shutdown of all gaming venues mid-March, including the City of Dreams Manila, Okada Manila, Resorts World Manila, and Solaire. With the quarantine still in place, the re-opening of the properties will be delayed until the beginning of July at the earliest. 

Source

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