Philippines GGR gains 23 percent in Q3

Philippine gross gambling revenue gained 23 percent in Q3, with figures for year to September already surpassing 2017’s total, according to figures released by the Philippine Gambling and Amusement Corp (PAGCOR).

For the quarter, the total was PHP52.9 billion pesos, compared with PHP43 billion the same period the prior year.

For the nine months to September, total GGR came in at PHP158.3 billion ($3 billion), which means the Philippines may be fast approaching the same levels of GGR as Singapore, Asia’s second-biggest market. In 2017, the Philippines generated GGR of PHP152.5 billion.

The IRs operating in Entertainment City generated GGR of PHP34 billion in the quarter, up 27 percent from the prior year. For the 9 months, GGR was PHP103.1 billion. The regulator didn’t provide year-ago comparisons on a nine-month basis.

For Q3, the amount of revenue generated by junkets soared to PHP8.2 billion, up from PHP1.8 billion a year earlier. For the nine months, junket GGR was PHP29.2 billion.

Pagcor said revenue from electronic gaming sites gained 27 percent in Q3 to PHP7.1 billion, taking the nine-month total to PHP20.6 billion.

Pagcor also said it received PHP4.7 billion in income from Philippine Offshore Gaming Operators. For Q3, the figure was PHP1.22 billion, up from PHP950 million in the same quarter a year earlier.