PAGCOR reports 13.6% drop in Philippine casinos gross gaming revenue

On the other hand POGOs saw a 34.9% increase in revenue 

Philippine Amusement and Gaming Corporation (PAGCOR) has reported a decline of 13.6 percent in gross gaming revenue of P45.4 billion (US$911.4 million) for the first quarter of 2020 compared to the same period last year.  

This happened after the regulator ordered the suspension of operations for land-based casinos in Metro Manila and neighboring provinces within the Luzon island starting 15 March. Other PAGCOR operated casinos, electronic betting stations, bingo halls, poker clubs, and slot machine arcades in the entire country were ordered to suspend operations a few days after. 

PAGCOR was one of the first agencies to respond to the government’s call to temporarily stop operations to prevent the spread of COVID-19.  

Casinos in Metro Manila remain closed but are in full preparation for reopening in a date to be announced by the government.

Entertainment City, where the bulk of integrated resorts in the country are located, saw a revenue decline of 16 percent while PAGCOR operated casinos reported a loss of P1.82 billion (US$36.5 million) compared to the first quarter of 2019.  

Year-on-year figures for mass table revenue increased to P16.68 billion (US$334.8 million) for the first quarter, and income for electronic betting stations had an 11.8 percent increase. Meanwhile, junket activities dropped 28 percent to P10.1 billion (US$202.7 million). 

However, casinos in Clark Freeport Zone, north of Metro Manila, recorded collected gaming revenue rise of 38.6 percent compared to the same period last year. 

Philippine Offshore Gaming Operators (POGO) also saw an increase in revenue by 34.9 percent to P1.81 billion (US$36.3 million). 

Casinos in Metro Manila remain closed but are in full preparation for reopening in a date to be announced by the government, conducting daily simulations and health & safety checks. Meanwhile, POGOs were given the go signal to resume operations earlier in May, with a warning to comply and settle all tax obligations before reopening. 

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