Easing COVID-related restrictions resulted in an increase in gross gaming revenue (GGR) for the gaming industry in the Philippines. Judging by recent figures released by PAGCOR, the Philippine Amusement and Gaming Corporation, the industry is on its way to rebound, after seeing GGR for the calendar year (CY) 2021 surpass $2 billion.
Philippine Industry on Its Way to Financial Rebound
PAGCOR announced its CY 2021 results, outlining that GGR for the gaming industry hit PHP 131 billion ($2.2 billion). Compared to pandemic-impacted 2020 when revenue halted at PHP 98 billion ($1.9 billion), an increase of 14.5% is observed. Moreover, the results for last year were further boosted by the easing of COVID-related restrictions.
Breakdown of the industry GGR for 2021 shows that the fourth quarter of the year had the highest revenue. PAGCOR pointed out that 4Q GGR hit PHP 34.5 billion ($670 million). In contrast, during 3Q GGR halted at PHP 26.9 billion ($505 million) and in 2Q was even worse with PHP 21.7 billion ($421 million). Overall, 4Q was the strongest quarter followed by 1Q with PHP 30 billion ($582 million).
Licensed Casinos Responsible for the Bigger Part of GGR during 2021
A breakdown of the total industry GGR shows that PAGCOR operated table games, slot machines, junket, poker and in-house bingo have seen PHP 8.2 billion ($159 million) in GGR. Further breakdown of that total shows that table games during 2021 were responsible for PHP 2.4 billion ($46.6 million) in revenue, while slots contributed PHP 4.9 billion ($95 million).
According to PAGCOR’s latest announcement, licensed casinos have reported a total of PHP 88.4 billion ($1.7 billion) in GGR during 2021. Breaking down the total shows that Entertainment city has reported PHP 78.9 billion ($1.5 billion) in GGR last year, while Clark reported PHP 8.7 billion ($169 million). In contrast, Fiesta has seen only PHP 668 million ($13 million) in GGR during 2021.
Last but not least, other gaming licenses that include bingo, electronic games and e-sabong reported a total of PHP 16.5 billion ($320 million) in GGR last year. Bingo operations have seen PHP 9.8 billion ($190 million) in GGR during 2021. On the other hand, electronic games have reported PHP 2.9 billion ($56 million) in GGR for 2021 and e-sabong has seen PHP 3.7 billion ($72 million) in GGR for the same period.