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Philippine casino industry expected to achieve $10 billion GGR by 2027
According to analysts at GCG Gaming Advisory Services, an Asia-Pacific regional consulting firm, the opening of the new casino is expected to achieve a $10 billion GGR by 2027, doubling sales in just five years.
Prediction:
The company expects the GGR to return to the 2019 level of $5 billion from next year, increasing from $3.9 billion to $4 billion in 2022.
The forecast is based on the company's 3Q22 market report for the Philippines.
By 2025, the casino industry will boom with the official launch of NUSTAR, Emerald Bay in Sebi, Solaire Casino in Cavite, Solaire North in Quezon City and Westside City.
Also, there will be expansion projects at Hanna Casino and Lois Casino in Clark.
A spokesperson for GCG Gaming Advisory Services said, "The Philippines enjoys a strong local market, a strong foreign community (Korea, China, Taiwan, Japan), and a fully open international border,
"Strong regulations, the introduction of PIGO and new airports from Cebu and Clark show that the Philippines will compete with Singapore for the top GGR position in the coming years.
"In 2027, we expect the Philippines to increase to an annual GGR of $10 billion."
Q3 2022 Revenue:
Philippine Entertainment Game Company (PAGCOR) announced a licensed casino GGR of $117 billion (about 2.04 billion won) in the third quarter of this year, with $44.8 billion (about 2.2 trillion won) invested.
On the other hand, the GGR of the entire industry, including PAGCOR casinos and "other permits" casinos, reached $1.04 billion in the third quarter, the highest quarterly level since 19 years in the fourth quarter when the GGR was $1.31 billion.
While PAGCOR did not differentiate GGRs that occurred in Manila and other parts of the Philippines in the September quarter, the first integrated resort in Cebu and NUSTAR resorts and casinos achieved a total gaming Raven (GGR) of about $20 million from the opening, GCG Gaming Advisory Services said.
The resort opened in May of this year, with a full opening scheduled for the second half of 2023. While most VIP areas are under construction, their main gaming area is currently open.
A spokesperson for GCG Gaming Advisory Services added, "We can estimate that Clark Casino contributed approximately $110 million (in the third quarter), NUSTAR in Cebu contributed approximately $20 million, and Fiesta Casino contributed approximately $8 million."