Philippine casino revenue up 23% in Q2 2023

The gross gambling revenue of licensed casinos in the Philippines in the second quarter of 2023 was 56.61 billion Philippine pesos ($1.00 billion). This follows from the report of the Philippine Entertainment and Gambling Corporation (PAGCOR), published the other day.

According to the contents of the document, income increased by 23.4% compared to the same period last year. At the same time, when compared with the first quarter of 2022, revenue decreased by 4.5%.

Manila's four integrated resorts - City of Dreams Manila, Okada Manila, Resorts World Manila and Solaire Resort & Casino - generated 43.47 billion pesos in revenue, accounting for 76.8% of the total revenue generated by the sector.

The commercial casino cluster in the Clark Freeport Zone and the casinos in Luzon Island generated 7.86 billion pesos, up 65.5%.

PAGCOR-operated casinos posted total revenue of PHP4.91 billion, up 29.6% from the second quarter of 2022.

There are currently 12 licensed casinos in the Philippines with over 2,300 gaming tables and about 20,000 slot machines.

Four gambling establishments belong to Entertainment City, which is located in Manila on an area of 120 hectares. These gambling properties are City of Dreams Manila, operated by a subsidiary of Melco Resorts and Entertainment Ltd; Solaire Resort and Casino, controlled by Bloomberry Resorts Corp; Okada Manila, owned and operated by a subsidiary of Japanese gaming conglomerate Universal Entertainment Corp; and Resorts World Manila, owned and operated by Travelers International Hotel Group Inc.