Philippines 2023 GGR estimated 5% up compared to 2019

GCG Gaming Advisory Services Pty Ltd suggests that the gross gaming revenue (GGR) for the Philippines in 2023 is estimated to range between “US$5.0 billion to US$5.2 billion.” Achieving figures at the upper end of this spectrum would signify a performance “at least 5 percent” better than the pre-pandemic year of 2019, which yielded around US$4.84 billion, according to the consultancy.

The provided data encompasses the entire industry GGR, encompassing non-casino establishments such as bingo and electronic games parlors, state-run casinos, and commercial-casino properties in various locations like Entertainment City Manila, Clark, and Cebu.

Notably, GCG Gaming Advisory Services has revised its 2023 forecast downward from the earlier suggested range of “US$5.2 billion to US$5.9 billion.” Despite this adjustment, the consultancy anticipates surpassing the record GGR of US$1.26 billion in the fourth quarter of 2019, with expectations of heightened growth in Korean customer visitation and the gradual return of Chinese patrons in the fourth quarter of this year.

The third-quarter national GGR of US$1.24 billion this year showed minimal growth compared to the US$1.19 billion achieved in the same quarter of 2022, according to the consultancy.

However, the Manila-market GGR has fallen short of 2023 expectations, particularly concerning Entertainment City, which experienced a 5.7 percent decline in GGR during the third quarter compared to the first quarter of 2023. This decrease is attributed to the predominantly local market and the absence of Chinese junket play.

GCG Gaming Advisory Services now predicts the combined Entertainment City GGR for this year to be within the range of “US$3.2 billion to US$3.4 billion,” a level that matches or slightly exceeds the 2019 GGR of US$3.23 billion.

The consultancy anticipates an increase in players in the Manila commercial casino market in the next 12 months, especially with the proposed opening of Westside City, conveniently located in proximity to City of Dreams (Manila), Solaire Resort and Casino, and Okada Manila.

Clark emerges as a notable growth story in the Philippines, with GGR for the first three quarters of this year amounting to US$450.64 million, constituting 19 percent of Entertainment City’s total. This marks a substantial increase from the 7 percent contribution in the same period in 2019. GCG Gaming Advisory Services expects Clark’s casinos to generate approximately US$640 million in GGR for 2023.

Cebu’s commercial casino market, including NUSTAR Resort and Casino, is forecasted to generate “US$40 million to US$50 million” in GGR for the full year 2023.

The consultancy maintains its previous forecast that the Philippine gaming industry could achieve “US$10 billion” in annual GGR by the end of 2027.

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