Industry consultancy GCG Gaming Advisory Services Pty Ltd said Philippines gross gaming revenue (GGR) could be “$5 billion to $5.2 billion” for the whole of 2023. Being top of the range means “at least 5%” better results than the pre-pandemic trading year of 2019, worth $4.84 billion, the consultant added.
The data refers to commercial-casino properties in non-casino bingo and electronic game outlets, state-owned casinos, and entertainment cities, Manila, Clark, Cebu, and other regions.
GCG Gaming Advisory Services’ latest 2023 forecast is actually down from its previously proposed range of “$5.2 billion to $5.9 billion.”
Nevertheless, it noted in its update, “The record GGR of $1.26 billion in Q4 2019 is most likely to exceed in Q4 of this year, when the increase in South Korean [customer] visits and the gradual return of Chinese people are expected.”
The national GGR’s $1.24 billion in the third quarter of this year represented “very little growth” compared to the $1.19 billion achieved in the third quarter of 2022, the consultant said.
GCG Gaming Advisory Services said Manila market GGR was “well below expectations for 2023.”
“The concern is that [Entertainment City]’s GGR for Q3 is 5.7% lower than Q1 2023. We attribute this to the market being primarily local and a lack of Chinese junket play,” the update noted.
Currently, the consultant expects the combined Entertainment City GGR to be in the range of “$3.2 billion to $3.4 billion” this year, similar to or slightly above when it brought in $3.23 billion in GGR in 2019.
Over the next 12 months or so, “the proposed opening of Westside City will see more players overall,” said GCG Gaming Advisory Services in the Manila commercial casino market. “This is because the property is conveniently located in the City of Dreams [Manila], Solaire [Resort and Casino] and Okada [Manila].
Philippine-listed Suntrust Resort Holdings Inc. is developing a casino hotel complex as part of Manila’s Westside City project.
For data collection, the country’s casino regulator, the Philippine Play and Game Company, includes Newport World Resorts as an Entertainment City property.
Elsewhere in the Philippines, Clark’s “growth story” reported a GGR of $450.64 million in the first quarter of this year, which is 19% of the GGR generated at Entertainment City properties, the consultant noted. During the same period in 2019, the GGR generated at Clark’s casino was only 7% of Entertainment City’s tally.
GCG Gaming Advisory Services said it expects Clark’s casino to generate about $640 million in GGR in 2023. “Hahn [Casino Resorts], DeHites [Resort & Casino] and Royce [Hotel & Casino] lead the pack,” it said.
BY: 우리카지노탑