Philippine Q4 GGR was Php25.80bn (US$538.5m), increased with 27.7 per cent compared with Q3 reported by licensed casinos.
PAGCOR has announced that licensed casinos, PAGCOR-operated casinos, bingo operations and electronic games brought in GGR of Php25.80bn (US$538.5m) in Q4 2020.
That’s an increase of 27.7 per cent on GGR of Php17.66bn (US$368.6m) in Q3.
Casinos in the Philippines were closed from March 15 last year due to the Covid-19 pandemic and reopened at 30 per cent capacity in August.
Integrated resorts saw the biggest quarterly growth, with GGR up 30.4 per cent to Php16.90bn (US$352.8m).
PAGCOR revenues fell by 60.4 per cent to US$624m in 2020, the lowest level in at least seven years.
Solaire Resort and Casino, Manila. One of the largest integrated resort casinos in the Philippines.
Gambling in the Philippines has been present in the country since at least the sixteenth century. Various legal and illegal forms of gambling are found almost all over the archipelago.
The government manages gambling through the Philippine Amusement and Gaming Corporation (PAGCOR) a state-owned enterprise which both operates a number of individual casinos and in turn acts as a regulator to privately owned casino operators.
Since 2016 PAGCOR has also granted operating licenses and overseen the regulation of growing online gambling sector serving offshore markets.
Casino gambling and integrated resorts have become a key component of the Philippines appeal as a tourist destination with more than twenty casinos found in Metro Manila alone.
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Source: focusgn.com
