Philippines casinos showing sharp rise

PAGCOR, the Filipino casino monopoly, has reported a sharp 67.3 per cent uplift in its half-year figures to June 30.

Recovery from the pandemic appears to be well in hand as it turned in a performance 2.1 per cent above the US$434m it had budgeted for the half year, reports Inside Asian Gaming.

The second quarter income was $240m, up 18.6 per cent over the previous period. All casinos across the Philippines had been recording a rise in revenues after the easing of restrictions and despite a 75 per cent cap placed on attendance at the Manila integrated resorts.

Net profit rose to $39m, a huge increase on the pandemic-hit 2021 half-year results. CEO Andrea Domingo (pictured) expects that the Filipino gaming sector will double it is revenues this year.