PAGCOR reports rise in revenue in Q1
PAGCOR’s revenue was up 11.2 per cent year-on-year.
The Philippines.- The Philippine Amusement and Gaming Corp (PAGCOR) has shared its financial results for the first quarter of the year. It’s reported revenue of PHP28.07bn (US$502m), up 11.2 per cent year-on-year.
Gaming accounted PHP25.52bn (US$457m), 56 per cent from the electronic games and e-bingo segment at PHP14.32bn (US$256m), followed by licensed casinos with PHP8.32bn (US$149m), accounting for 32.6 per cent, while PAGCOR-operated casinos contributed PHP2.88bn (US$52m) or 11.31 per cent.
The regulator reported that operating expenses fell by 15.54 per cent to PHP6.21bn (US$111m). As a result, net income was PHP4.22bn (US$76m), up 23 per cent in year-on-year terms.
Alejandro H. Tengco, chairman and chief executive officer of PAGCOR, said: “This solid performance reflects PAGCOR’s commitment to responsible governance and fiscal discipline,” he said. “The gains we have made in the first quarter will allow us to contribute even more to nation-building for the rest of the year.”
He said PAGCOR would continue to innovate and strengthen regulatory oversight to ensure the agency’s revenues “directly benefit the Filipino people through its nation-building and corporate social responsibility programs.”
PAGCOR’s contributions to nation-building during the period reached PHP18.9bn (US$338m). That’s an increase of 21.5 per cent from PHP15.56bn (US$279m) in the first quarter of 2024.
