Philippines Posts Strong Gambling Revenues in Q3 2021

Gambling revenue in the Philippines is back on the up as the third-quarter results have restored some confidence in the market. The Philippine Amusement and Gaming Corporation (PAGCOR), which regulates and controls gambling in the country, has reported revenue of $538 million in the quarter, factoring in PAGCOR’s own venues, third-party license holders, and non-categorized licensees.

As casinos ease up their COVID-19 restrictions, though, the country may still post a much better result in Q4. The present number is a 52.5% increase year-over-year and has resulted from a return of regulated gambling. PAGCOR’s facilities have managed to rake in the equivalent of $25 million. Slot machines added another $18 million, marking a 125.1% increase year-over-year. Table games brought another $9.64 million for the recovering gambling industry in the country.

Other sectors continued to drive annual growth with junket operators reporting in around $4.85 million or a 16.3% increase year-over-year. Poker raked in just $360,000, a rather modest result overall, with no comparable data from last year.

Third-Party Gaming Facilities Post Solid Results

While PAGCOR’s own facilities registered solid results, so did other groups of operators that have the appropriate licenses from the regulator but choose to operate gaming facilities on their own.

The revenue from such third-party facilities hit $417 million, or a 44% year-over-year increase. Various licenses brought in strong results, including Entertainment City in Metro Manila which registered a 49.4% year-over-year uptick to $377 million. Then again, Clark casinos registered a 22.2% increase in revenue to $4.6 million. Fiesta casino venues, though, registered a 45.6 decline in their overall revenues, down to $200,000.

Outside of these licenses, there were more contributors to the total gambling revenue at the end of the quarter. Those other licenses registered a 103.2% increase to $69 million. There have been other verticals showing strength during the period with bingo operations going up 16.5% year-over-year to $32 million, and electronic games adding another $12 million.

Strong Quarter Bolstered by Interactive Gambling Opportunities

The quarter is an important litmus test for the future of the country’s gambling industry, as iGaming and interactive wagering solutions were introduced in the second quarter.

Meanwhile, the Philippines President, Rodrigo Duterte, has signed several laws this year, including one targeting offshore gambling operators known as POGOs. The move is designed to help bolster the ailing public purse which has been hard-hit by the pandemic, which is slowly releasing its chokehold from the economy and the entertainment sector.