Philippine gambling revenue continues to recover in Q3

| By Marese O'Hagan
The Philippine Amusement and Gaming Corporation (PAGCOR) has reported revenue figures of PHP26.94bn (£400.5m/€469.5m/$537.6m) for the country's gaming industry during the third quarter of 2021.

This was a rise of 52.5% compared to the third quarter of 2020.

A total of PHP1.68bn came from PAGCOR-operated gaming venues, a rise of 83.9% year-on-year. Slot machines made up PHP949.5m of this total, a year-on-year increase of 125.1%. Table games generated PHP485.3m of the total, up 141.3%.

Junket operations made up PHP244.2m, a decrease of 16.3% year-on-year. Poker made up PHP1.8m of the total this quarter, with no comparable figures from 2020. In-house bingo generated PHP1.0m- also with no comparable figures available from Q3 2020.

Revenue from PAGCOR-licensed casinos operated by other groups, meanwhile, rose this quarter, to PHP21.77bn from PHP15.03bn in the same period of 2020- a 44.8% increase.

Licensees located in the Entertainment City complex in Metro Manila brought in PHP19.3bn in revenue, up 49.4% year-on-year. Clark casinos saw PHP2.30bn in revenue, a rise of 22.2%, while Fiesta casino venues suffered a 45.6% drop in revenue to PHP100.6m.

Other licensees contributed PHP3.48bn to the total, a rise of 103.2%. Bingo operations rose 16.5% year-on-year to PHP1.65bn, while electronic games grew by 103.3% to PHP613.1m. Electronic sabong, which is online betting on live cockfighting, generated PHP1.21bn of the total revenue.

This was the first full quarter in which the Philippines offered online gaming services, having introduced the vertical in Q2.

In April, it allowed Tiger Resort, Leisure and Entertainment, operator of the Philippines’ Okada Manilla Resort to offer its online services within the country. In August, PAGCOR granted an online distribution licence to Jade Entertainment.

As a result, there were no comparison figures available for electronic sabong.

Total industry revenue for the year so far totaled at PHP77.84bn.

Q3 also saw PAGCOR appoint James Patrick Bondoc to the company’s board of directors.

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