The Philippine casino GGR will have a value of $10 billion by 2027. Thus, it would double its current GGR in five years. It is according to a new industry report from the GCG Gaming Advisory Services.
The long-term forecast was part of the company’s third quarter of 2022 market report for the Philippines. Also, it predicts that the GGR would increase from $3.9 billion in 2022 to about $5 billion by 2023.
According to sports betting reports, licensed casinos generated gross gaming revenue (GGR) totaling US$2.04 billion for the first nine months of 2022, with Q3 accounting for $781 million. PAGCOR and other casino operators generated nearly US$1.04 billion in Q3. It was the highest quarterly total since the fourth quarter of 2019 when the GGR was $1.31 billion.
Philippine Casino GGR in 2027
The first integrated resort in Cebu, NUSTAR Resort and Casino, is estimated to have generated gross gaming revenue of about $20 million in its first quarter of operations, according to GCG estimates. In the third quarter, PAGCOR didn’t distinguish between the GGR earned in the Entertainment City in Manila and other areas such as Cebu and Clark. The building staged a soft opening in May. Also, their official opening will be in the second half of 2023. While the majority of the VIP rooms are still under development, the main gaming floor is presently open. However, they don’t allow players to bet on volleyball and other sports.
According to gaming news sources, the Philippines will host new casino resorts in the upcoming years. These include the Westside City project in Manila’s Entertainment City area by 2025, Solaire North in 2023, and a second Cebu casino resort called The Emerald Bay.
A comparable expansion project at the close-by Royce will soon rival the recent Hann Casino Resort development in Clark, where there is also significant growth.