The Philippine gaming industry is expected to achieve a historic high

977Iti

The Philippine gaming industry is expected to achieve a historic high, with total revenue potentially reaching $5.2 billion.

The Philippine gaming industry is expected to achieve a historic high total revenue of $5 billion to $5.2 billion in 2023, driven by record-breaking quarterly performance in the fourth quarter, according to the latest analysis from GCG Gaming Advisory Services (GCG). Following PAGCOR's recent release of industry data for the third quarter, the overall industry gross gaming revenue (GGR) reached $1.24 billion, a slight increase from the same period last year's $1.19 billion. However, GCG points out that the total revenue of $1.26 billion achieved in the fourth quarter of 2019 is likely to be surpassed in the fourth quarter of this year, with the expected growth of Korean tourists and the return of Chinese tourists being crucial factors.

GCG emphasizes that the growth in total revenue is mainly attributed to the rise of the Clark region, where the total gaming revenue has increased from 7% in 2019 to the current 19%. In just the third quarter of 2023, Clark achieved $160.4 million in revenue, with annual total revenue expected to reach around $640 million. According to GCG's observations, Hann, D'Heights, and Royce hold leading positions, while Midori, Casino Plus, and Fontana continue to compete with high-quality properties. Capital Casino operated by PAGCOR ranks last, and other projects are still in the early planning stages, with Royce's new facility set to launch soon.

In Manila, GGR in the third quarter was 5.7% lower than the first quarter, mainly due to the market being predominantly local with a lack of Chinese intermediaries. In Cebu, GGR in the third quarter of 2023 is expected to be between $20 million and $30 million, with annual GGR between $40 million and $50 million. GCG maintains its forecast that by 2027, the total gaming revenue in the Philippines will double, reaching $10 billion. The robust local market, expatriate community, and strengthened regulatory efforts position the Philippines prominently in the Asian gaming market, ranking second in the region after Macau and competing closely with Singapore.

Kamal531

It seems to be a good income as well.

Ritu13

The Philippines should continue to double in the future, and we look forward to the industry's development.

Yamini003

The Philippines does rely on this to increase revenue.

Samiksha

It can be said that the gambling industry still has unlimited prospects.