Gambling Ggr
- The Philippine Amusement and Gaming Corp (PAGCOR) has published gross gambling revenue (GGR) for Q2, recording only PHP2.42bn ($49.9m) for the trading period. The ongoing COVID-19 pandemic has caused casino closures, meaning GGR for Q2 2019 was comparatively higher, with PHP60.65bn generated from various gambling outlets and PHP1.32bn from.
- What is Gross Gaming Revenue (GGR)? GGR stands for Gross Gaming Revenue in the gaming and online casino world. It is calculated as the difference between the net profit (the amount players wager minus the amount they win) and the tax an establishment pays in regards to gaming supplies. The profits can be huge.
The Philippine Amusement and Gaming Corp (PAGCOR) has published gross gambling revenue (GGR) for Q2, recording only PHP2.42bn ($49.9m) for the trading period.
The ongoing COVID-19 pandemic has caused casino closures, meaning GGR for Q2 2019 was comparatively higher, with PHP60.65bn generated from various gambling outlets and PHP1.32bn from online gaming operators.
GGR is a measure of profit in the gaming sector of the economy. From a purely economic standpoint, in comparison to the rest of an area’s economy, Gross Gaming Revenue provides a reflection of the real economic value added by the gaming industry.
Casinos in Manila, including City of Dreams Manila, Okada Manila, Resorts World Manila and Solaire Resort & Casino, produced the majority of revenue, as some of the venues in the area were allowed to resume limited operations in a form of trial runs that started in June.
Gambling Greed & Alcohol
The casinos earned PHP1.95bn ($40.5m) during the second quarter. In total, private sector casinos earned PHP2.16bn ($44.6m).
Gambling Grumbles
Private sector junket properties earned PHP129.8m ($2.7m), a decline from PHP1.69bn ($34.9m) for Q2 2019.
The regulator recorded PHP55.33bn in earnings for the first six months of 2020. In July, PAGCOR announced a loss of PHP1.6bn for H1 that ended on June 30.
Gambling Grandma
Currently, casinos in the country are allowed to reopen but are limited to 30% capacity.