Pagcor revenue down 60% in 2020

Pagcor revenue down 60% in 2020

Chairman Andrea Domingo blamed the Covid-19 pandemic and problems encountered by the offshore gaming operations for the decline.

The Philippines.- Pagcor revenues fell by 60.4 per cent to US$624m in 2020, the lowest level in at least seven years. Profits fell by 83.3 per cent.

Pagcor suspended gambling operations in mid-March last year due to the Covid-19 pandemic. Only from the end of August were some casinos able to reopen with a 30 per cent capacity limit.

The Philippine Amusement and Gaming Corp. operates several state-owned casinos under its own Casino Filipino brand and serves as the regulator for other private-sector gambling venues.

See also: Tax payments from Philippine offshore gaming operators (POGOs) increased by 11.71 per cent year-on-year in 2020.

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land-based casino PAGCOR