Philippine gross gaming revenue (GGR) could be “US$5.0 billion to US$5.2 billion” for full-year 2023, says industry consultancy GCG Gaming Advisory Services Pty Ltd. Anything toward the top of that range would mean a result “at least 5 percent” better than the pre-pandemic trading year of 2019, which produced the equivalent of US$4.84 billion, added the consultancy.

The data refer to entire industry GGR, including non-casino bingo and electronic games parlours, and state-run casinos, as well as the commercial-casino properties in Entertainment City Manila, Clark, Cebu, and elsewhere.

GCG Gaming Advisory Services’ latest 2023 forecast is actually down from its previously suggested range of “US$5.2 billion to US$5.9 billion”.

Nonetheless it noted in its update: “The record GGR of US$1.26 billion in the fourth quarter of 2019 is most likely to be exceeded in the fourth quarter this year when we expect to see increased growth in the Korean [customer] visitation and the gradual return of the Chinese.”

The US$1.24 billion in third-quarter national GGR this year represented “very little growth”, relative to the US$1.19-billion achieved in third-quarter 2022, said the consultancy.

Manila-market GGR had been “well below 2023 expectations,” said GCG Gaming Advisory Services.

“Of concern is that [Entertainment City’s] third-quarter GGR was 5.7 percent lower than first quarter of 2023. We attribute this to the market being predominantly local and the lack of Chinese junket play,” noted the update.

The consultancy now expects the combined Entertainment City GGR for this year to be in the range of “US$3.2 billion to US$3.4 billion” – a level that would match or slightly exceed 2019, when they generated US$3.23 billion in GGR.

In the next 12 months or so, “the proposed… opening of Westside City should see more players overall” in the Manila commercial casino market, “as the property is conveniently located quite centrally to City of Dreams [Manila], Solaire [Resort and Casino] and Okada [Manila],” stated GCG Gaming Advisory Services.

Philippines-listed Suntrust Resort Holdings Inc is developing a casino hotel complex as part of the Westside City project in Manila.

For data collection purposes, the country’s casino regulator, the Philippine Amusement and Gaming Corp (Pagcor) includes Newport World Resorts as an Entertainment City property.

Elsewhere in the Philippines, Clark is the “growth story”, with GGR of the first three quarters of this year amounting to US$450.64 million, or 19 percent of that generated by Entertainment City’s properties, the consultancy noted. In the same period in 2019, the GGR generated from Clark’s casinos represented only 7 percent of Entertainment City’s tally.

GCG Gaming Advisory Services says it expects Clark’s casinos to generate approximately US$640 million in GGR for 2023. “Hann [Casino Resort], D’Heights [Resort & Casino] and Royce [Hotel & Casino] lead the pack,” it stated.

“Midori [Clark Hotel and Casino], Casino Plus and Fontana continue to struggle against the influx of high-quality properties. Capital Casino, operated by Pagcor, brings up the rear,” the consultancy remarked.

Cebu’s commercial casino market – which includes NUSTAR Resort and Casino – might generate “US$40 million to US$50 million” GGR for full-year 2023.

The consultancy maintains its view mentioned in previous forecasting, that the Philippine gaming industry could achieve “US$10 billion” in annual GGR for full-year 2027.