Despite the announcement by PAGCOR's head that the regulator would (finally) be privatizing its casinos, the move is unlikely to have a strong impact on the industry, notes an expert. Maybank's Alexa Carvajal also states that a total ban on Philippine Offshore Gaming Operators would not have a significant impact on the industry, even as both mass and VIP play are growing significantly.

Commenting on the Philippine Amusement and Gaming Corporation’s (PAGCOR) privatization plan, Maybank analyst Alexa Carvajal says that, given that the gaming regulator comprises only 7 percent of the total Philippine gross gaming revenue (GGR), “we do not expect the effect of its privatization to be significant.”

The Philippine Amusement and Gaming Corporation (PAGCOR) has reported a total income of PHP 51.66 billion ($906 million) from its gaming operations during the nine months ending on September 30, 2023. This represents a robust year-on-year increase of 31.9 percent and slightly exceeds the government's budgeted target for this period.

Maybank analyst cuts Bloomberry Resorts FY24 forecast due to a gaming revenue slowdown, in particular in VIP.

Maybank analyst Alexa Mae Carvajal, commenting on the recent announcement of the Philippines Department of Foreign Affairs (DFA) regarding the temporary suspension of its e-visa application system in China, observes that the online application's halt appears to have minimal repercussions.

Maybank has announced a 23 percent increase in its FY23 earnings forecasts for the Philippines gaming operator, Bloomberry Resorts.

Analysts at Maybank say that the Philippines’ gross gaming revenue (GGR) in 2023 could increase 15 percent over the medium term, “driven by domestic demand”, maintaining their positive outlook for the country’s gaming growth.