Philippine Gambling Industry Earns $1.24 Billion in 3rd Quarter

Philippine Gambling Industry Earns $1.24 Billion in 3rd Quarter

Last updated on November 25th, 2023 at 12:51 pm

The gross gaming revenues of the Philippine gambling industry was $1.24 billion in the third quarter of the year. Also, it was a 20.1 percent increase compared to last year’s quarter. In addition, the third quarter GGR is two percent higher than the previous quarter.

According to bookie pay per head sources, prominent players like the Clark casinos largely backed this tendency. The operator pushed the market ahead with a 13% improvement over the Q2 2023 performance, generating gross gaming revenues of Php8.89 billion (US$160 million), according to numbers supposedly issued by the government gambling regulating body PAGCOR.

This outcome was also up to 45.8 percent from the company’s performance in the same period in 2022, as stated by the source. In addition, Clark drove the overall rise of 2% during Q2 2023 by contributing to the total gross gaming revenues earned over the three months ending on 30 September 2023, with an approximately 13% stake.

Philippine Gambling Industry GGR in the Third Quarter

Philippine Gambling Industry Earns $1.24 Billion in 3rd QuarterIt appears that Clark’s contribution was diminished as compared to other licensed operators, according to IAG. According to bookie software sources, Entertainment City casinos’ gross gaming revenues (GGR) had fallen to $770 million when the dust settled on the quarter. Clark, Entertainment City, and Festa, all licensed casinos, produced a gross income of $936 million, an increase of barely 0.4 percent compared to the previous quarter. This indicates a pattern.

It has been stated that PAGCOR, the gaming regulator and operator, had relatively unchanged casino facilities compared to the previous quarter. According to sportsbook pay per head reports, they achieved a gross gaming revenue of $89.1 million, with electronic gaming and bingo adding $215 million. There was an approximately 11% rise, as stated, as compared to the level attained in Q2 2023 ($195 million).

Reportedly, PAGCOR Chairman and CEO Alejandro Tengco recently announced that the sector’s revenues would approach pre-pandemic levels, and the good Q3 2023 performance of the Philippine gaming industry is based on this prediction.

Start a bookie business with today!

Bookie Pay Per Head Service