The Philippine casino’s gross gaming revenue GGR fell 4.3% year-over-year to $49.486 billion. This slight decrease was closely followed by the first quarter’s GGR of $49.686 billion. Despite the traditional downward trend in casino revenue, the overall gaming industry in the Philippines experienced solid growth thanks to the burgeoning E-Games segment.
e-games: Remarkable achievements:
The E-Games segment, as heralded by PAGCOR President and CEO Alejandro H. Tengco, showed remarkable growth with revenue of $30.85 billion PHP 539 billion. This represented an impressive 525% increase from last year’s PHP of $4.93 billion and $86.1 billion. “This segment continues to exceed our targets and will help make up for shortfalls caused by the President’s orders to ban overseas games or POGO by the end of the year,” said Tengco, with Inside Asian Gaming highlighting the strategic importance of E-Games in the domestic gaming market.
The PAGCOR-run casino Philippine brand saw revenue decline in the second quarter, bringing in $73.3 million, or $420 million, down 14.8% from its 2023 figure. Similarly, revenue from its bingo operations also fell to $81.9 million, or $4.69 billion, compared with revenue of $5.85 billion, or $122 million in the second quarter of the prior year.
International Perspectives: Universal Entertainment Corp:
Universal Entertainment, Okada Manila’s parent company, affected its overall performance, highlighting difficulties in the Philippine casino sector caused by a slowdown in its junket business. “As the slowdown in the junket business negatively impacted the overall market conditions of the Philippine casino business, the number of VIP guests in Okada Manila continued to decline,” the company said in a data. It observed steady sales growth compared to pre-pandemic highs in 2019, despite a decline in its mass market and gaming console segment from a year earlier.
Universal’s “rides business,” including Pachinko and Pachislot machines, also experienced a sharp downturn. The Pachislot segment was largely influenced by innovations in smart machines that met operators’ expectations. However, the Pachinko segment saw sluggish sales despite the release of new machines with features such as lucky triggers.
Overall, the second quarter painted a complicated picture of the casino industry in the Philippines. While traditional gaming venues are facing challenges, the explosive growth of E-Games and strategic changes in rides present an innovative step for the industry, highlighting the path to adaptability and potential recovery and growth. 무료슬롯사이트
Stakeholders remain cautiously optimistic, with a focus on adapting to the needs of the market and pioneering new gaming sectors. This adaptability aims not only to mitigate current market challenges but also to lay the groundwork for sustained post-pandemic growth, ensuring industry resilience and continued contribution to the national economy.