Pagcor nets 14.32B on robust gaming operations
The net income of the Philippine Amusement and Gaming Corp. (Pagcor) surged by 49 percent to P14.32 billion in the first three quarters of the year, as modernization efforts boosted gaming revenues.
The gaming regulator said its revenues from January to September had amounted to P84.09 billion, marking a 5.87 percent year-on-year increase.
Similar to last quarter, the bulk of the top line came from gaming operations, which accounted for P75.93 billion, while P8.16 billion came from other related services and income.
“Our financial performance is a clear reflection of Pagcor’s renewed focus on governance, digital transformation, as well as sustainable and responsible gaming,” Pagcor chair and CEO Alejandro Tengco said.
Data from Pagcor also show that its total contributions to nation-building reached P54.26 billion, an 11-percent increase from the P48.88 billion in the same period last year.
The gambling regulator funded P11 billion worth of socio-civic projects. It also paid P3.79 billion and P609.87 million in franchise taxes and corporate income taxes, respectively.
Pagcor also earmarked P1.80 billion for the Philippine Sports Commission, as well as P26.54 million for athletes and coaches who had won in international sports competitions.
The Board of Claims received P142.42 million, while the Renewable Energy Trust Fund got P201.47 million.
Meanwhile, P508.20 million in revenues were also given to cities hosting Casino Filipino branches.
