Philippine Q2 GGR up 10.7 percent

Gross gambling revenue in the Philippines rose 10.7 percent in Q2, though revenue from licensed casinos slipped from the prior quarter. 

The Philippine Gaming and Amusement Corp. said GGR from all forms of gambling for the quarter was PHP60.15 billion ($1.14 billion), compared with PHP54.29 billion a year earlier. 

Revenue from licensed casinos was PHP52.29, up 10.6 percent from the prior year, but down from the PHP52.52 billion posted in the first quarter.

The main reason for the decline was a fall in VIP revenue and declines in revenue at casinos run by the regulator.

VIP revenue at licensed casinos was PHP13.16 billion in Q2, compared with PHP14.06 billion in the first quarter. Revenue at PAGCOR-operated casinos was down almost 4 percent to PHP9.06 billion.

Casinos in Entertainment City pulled in PHP40.51 billion, up from PHP35.7 billion a year earlier and up from PHP39.82 billion the prior quarter.