Connect with us

Hi, what are you looking for?


Philippine gambling revenue seen at pre-pandemic levels by 2026

MANILA – The Philippine gaming industry’s revenue is expected to recover to its pre-pandemic position by 2026 or even overtake this level, as player confidence slowly returns to the sector, a senior regulatory official said on Tuesday.

“Definitely there will be no more lockdowns but bringing back the confidence of players is hard,” Daniel Cecilio, licensing and regulatory group chief of state-run regulator Philippine Amusement and Gaming Corp, told Reuters.

The Southeast Asian country’s gross gaming revenues (GGR), the amount players wager minus winnings, hit a record P256 billion ($4.60 billion) in 2019, but casino operations were then halted by COVID-19 lockdowns, slashing revenue to around P100 billion in 2020.

Revenue picked up to P113 billion in 2021 and P39 billion in the first quarter of 2022, data from the gaming regulator showed.

By 2026, GGR might reach P256 billion or better, with land-based casinos seen contributing P146 billion, Cecilio said.

The regulator’s projection mirrors the recovery path of neighboring gambling hubs like Singapore and Macau, which is reeling from Beijing’s strict zero-COVID strategy.

The freewheeling Philippine gaming industry has attracted foreign and domestic companies to set up integrated casino-resorts, creating tens of thousands of jobs in the past decade.

In coming years, the sector’s recovery would be driven by pent-up demand and a return of confidence among domestic and foreign gamblers, Cecilio said.

There are 51 land-based casinos in the Philippines, including 38 operated by the gaming regulator and the rest privately owned, attracting high rollers from countries like China, Japan and South Korea.

Newport World Resorts, which owns the country’s first integrated casino-resort, expects its operations to return to pre-pandemic levels by 2023, faster than the broader industry.

“We are expanding our gaming areas to absorb junket groups that are coming,” Sandy Amida, senior director for gaming operations at Newport World Resorts in Manila, told Reuters. — Reuters

Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like


THE Asian Development Bank (ADB) said school closures during the pandemic worsened student progression and future livelihoods, particularly for poor students and girls, in the...


THE Pharmaceutical and Healthcare Association of the Philippines (PHAP) said it is confident that the Philippines can be developed as a hub for the industry,...


I can only imagine the worry that taxpayers feel when they receive a Letter of Authority (LoA) from the Bureau of Internal Revenue (BIR)....

World News

WASHINGTON – Advisers to the US Homeland Security Department said there was no need for the Disinformation Governance Board created by President Joe Biden’s administration earlier this year. The recommendation from a Homeland Security...

Dislaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 All Rights Reserved. Spirit