Philippine government’s share of PAGCOR 2023 income below pre-pandemic levels

PAGCOR posted an income of US$1.41bn for 2023.
PAGCOR posted an income of US$1.41bn for 2023.

In 2023, the national government received PHP33.85bn from PAGCOR.

The Philippines.- The Bureau of the Treasury has reported that the Philippine government received PHP33.85bn from the Philippine Amusement and Gaming Corp (PAGCOR) in 2023. The figure, which constitutes the mandatory 50 per cent of the gaming regulator and operator’s net revenues, was 4.5 per cent lower than in 2019 (PHP35.46bn) before the onset of the Covid-19 pandemic.

PAGCOR reported income of PHP79.38bn (US$1.41bn) for 2023 a year-on-year increase of 34.6 per cent, and gross income from gaming operations of PHP73.11bn (US$1.30bn), up 32.8 per cent, exceeding the Treasury’s target. Gross gaming revenue (GGR) was up 33 per cent year-on-year at PHP285bn (US$5.1bn). outperforming the previous high of PHP256.49bn in 2019.

For 2024, the Treasury anticipates an income share of PHP29.87bn.

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