The gaming industry of the Philippines is on rise

The gaming industry of the Philippines is on rise

The gambling regulator of the Philippines reported that the GGR of the casino industry in 2018 amounted to PHP187.54 billion ($3.58 billion), which is 22.9% more than in 2017.

According to the data published by PAGCOR, last year the total revenue of the country's casino resorts amounted to PHP151.65 billion, which is 28.3% more than in 2017.

Most of the private sector GGR falls into four gambling sites associated with the Manila’s Entertainment City project: City of Dreams Manila, operated by a subsidiary of Melco Resorts and Entertainment Ltd; Solaire Resort and Casino, controlled by Bloomberry Resorts Corp; Resorts World Manila, owned and operated by Travelers International Hotel Group Inc - a joint venture of the Philippine Alliance Global Group Inc and Genting Hong Kong Ltd; as well as Okada Manila, owned and operated by Tiger Resort, Leisure and Entertainment Inc, a subsidiary of Japanese gaming conglomerate Universal Entertainment Corp.

According to PAGCOR, GGR, generated by the VIP-segment of the casino, amounted to PHP51.94 billion in 2018, which is 24.4% more than in 2017. Most of the profits were generated by the private sector (PHP42.91 billion). Electronic gaming machines own 31.6% of the market.

Besides the fact that PAGCOR is the gambling regulator of the Philippines, the organization operates a number of state-owned casinos under the brand name Casino Filipino. According to official data, six land gambling establishments and 33 sites providing online gambling services are registered under the name brand.

In the fourth quarter of 2018, the casino industry of the Philippines noted a growth in GGR in amount of PHP49.80 billion, which is 26.7% more than in 2017.

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