GGR of Philippines licensed casinos up 18% in 1Q21: PAGCOR

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Philippines licensed casinos reported combined gross gaming revenues of Php23.27 billion (US$400.8 million) in the three months to 31 March 2021, down 39.2% year-on-year but 17.5% higher than the Php19.20 billion (US$400.8 million) recorded in the final quarter of 2020.

According to information published by gaming regulator PAGCOR, integrated resorts located within and near Manilas Entertainment City precinct namely Solaire, City of Dreams Manila, Okada Manila and Resorts World Manila continued their recovery in Q1 with GGR of Php21.12 billion (US$439.0 million), up from Php16.90 billion (US$352.8 million) in 4Q20.

That recovery trajectory has since been halted however, with Manilas casinos all closing their doors in late March due to quarantine measures imposed to control the latest wave of COVID-19 throughout the National Capital Region.

It was slower going in Clark, where GGR of licensed casinos fell slightly to Php1.88 billion (US$39.1 million) from Php2.0 billion (US$41.6 million) in Q4.

PAGCOR-operated casinos reported a 67.8% year-on-year decline in GGR to Php2.48 billion (US$51.5 million) largely flat compared with Q4.

Total industry GGR, comprising licensed casinos, PAGCOR-operated casinos, bingo operations and electronic games, fell from Php52.92 billion (US$1.10 billion) in 1Q20 to Php30.03 billion (US$624.2 million), although this was again considerably higher than the Php25.80 billion (US$538.5 million) reported in the final quarter of 2020.

PAGCOR had last week reported a 49.1% year-on-year decline in income from gaming operations in 1Q21 to Php8.36 billion (US$172.8 million).