Total annual gaming revenue (GGR) for 2023 generated by venues run by the Philippine Casino Regulatory Agency rose 23.6% year-over-year to $19.635 billion (about $35 million). According to data from the Philippine Entertainment Gaming Company (Pagcor), this figure includes poker and so-called “in-house bingo” as well as casino Philippine venues.
The 2023 GGR tally generated at locations operated by Pagcor was down 47.2% compared to the year before the pandemic in 2019.
Pagco is set to begin privatizing its casino Philippine real estate “at the end of 2025 or early 2026, agency chairman and chief executive Alejandro Tengco confirmed on Tuesday.
Mr. Tengco previously mentioned the importance of modernizing Pagcor’s slot machine operations in the land-based Casino Philippin network. He said Pagcor will sign a lease with the manufacturer to install “a total of 3,500 new electronic game consoles.”
Pagcor is also preparing to launch its own online casino brand, casinofilipino.com , in the second half of this year.
Commentators who attended the ASEAN Gaming Summit’s Wednesday panel suggested a “fully meaningful” move by the online casino Philippines ahead of planned sales of the Pagco-owned casino network.
Industrial-wide gross domestic product, including non-casino operations, rose 33.1% year-over-year to just over 285.27 billion PHPs in 2023, up 11.2% from the previous record of 256.49 billion PHPs set in 2019.
Entertainment City in Metro Manila, an integrated resort in the U.S., and commercial venues in Clark, Cebu, Rizal and Porpo Point were the biggest contributors to the gaming industry’s revenue in 2023, with a PHP of $207.48 billion and gaming of $58.16 billion.
Among Entertainment City’s large resorts, Solaire Resort and Casino, operated by Bloombury Resorts Corporation, had the highest GGR in 2023 with a PHP of 61.2 billion, according to data from Pagcor. Okada Manila, operated by a subsidiary of Universal Entertainment Corporation, came in second with a nearly PHP of 445.3 billion in terms of GGR.
A resort in Clark, elsewhere in the U.S., grossed 11.88 billion PHP in gaming, while NUSTAR Resorts and Casino, a tourist complex in Cebu that launched in 2022, recorded 5.51 billion GGR.
Mr. Tengko of Pagco and the chairman of the National Governance Commission for Government Owned and Controlled Companies of Marius Corp. recently signed the gaming agency’s 2024 earnings scorecard with its goals and revenue outlook for the year, according to a press release on Thursday.
Pagcor expects the domestic gaming industry to produce $336.38 billion in PHP this year, up 17.9% from 2023.
BY: 카지노사이트 모음
