According to the Philippine Amusement and Gaming Corp, the casino industry in the Philippines accumulated PHP15.95bn ($331.5m) in gross gaming revenue for Q3, a 603% rise from the previous quarter. However, GRR was 71% lower compared to PHP55.34bn reported for Q3 2019.
Private sector casinos earned PHP15.04bn in GGR, with Entertainment City contributing PHP12.96bn in GGR for Q3. PAGCOR owned casinos earned PHP914.7m in GGR, a 90% drop from PHP9.33bn reported for Q3 2019. According to GGR Asia, the Philippine gaming industry reported PHP17.66bn in revenue.
Income from gaming operations for nine months was PHP22.33bn. Net income for the same period was PHP132.7m, a drop from PHP4.97bn in 2019.
The rising GGR can be attributed to resumed operations in the country’s casinos, but the venues resumed work with limited capacity. The casinos closed their doors in mid-March and in June were allowed to open at 30% capacity.
Despite the slow recovery of the industry, PAGCOR announced it will provide PHP2bn to build multi-purpose evacuation centers in the country’s provinces suffering from floods. There will be three types of centres in 31 sites.
PAGCOR Chairman and CEO Andrea Domingo said that this year, the Filipinos suffered from both the ongoing pandemic and recent typhoons, “Hence, despite our revenue losses, we have committed to provide a long-term solution to the most vulnerable sectors and communities. Our multi-purpose evacuation centers will be designed to withstand strong typhoons so that evacuees will feel safe and comfortable while they are away from their homes.”