The Philippines casino regulator has reported a 60 per cent fall in income from gaming operations in the first nine months of 2020.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- The Philippine Amusement and Gaming Corp (Pagcor) has published its latest financial report showing that its income from gaming operations in the Philippines has fallen by 60 per cent compared to the same period last year.<\/p>\n\n\n\n
Income from gaming operations fell to PHP22.33\u00a0billion (US$461.7\u00a0million). Net income of nearly\u00a0PHP132.7 million for the period compared with\u00a0PHP4.97 billion\u00a0in the same period in 2019.<\/p>\n\n\n\n
Figures show its revenue was clearly impacted by pandemic countermeasures. Many casinos in the Philippines\u00a0were closed during most of the second quarter of the year, including the large-scale private sector sites City of Dreams Manila, Okada Manila, Resorts World Manila and Solaire Resort and Casino.<\/p>\n\n\n\n
The report reveals that income collected from offshore gaming operators (POGOs) stood at PHP3.76\u00a0billion in the reporting period,\u00a0a decline of 60 per cent year-on-year.<\/p>\n\n\n\n
Pagcor\u2019s total expenses fell by\u00a034.7\u00a0per cent year-on-year to PHP15.91\u00a0billion in the first\u00a0nine\u00a0months of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Philippines casino regulator has reported a 60 per cent fall in income from gaming operations in the first nine months of 2020.<\/p>\n","protected":false},"author":2,"featured_media":11294,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippine Amusement and Gaming Corp (Pagcor) reported a 60% year-on-year decline in gaming operations income, reaching PHP22.33 billion (US$461.7 million), and a substantial net income reduction to PHP132.7 million for the first nine months of 2020. This contraction, primarily driven by pandemic-induced closures of integrated resorts and a 60% drop in Philippine Offshore Gaming Operator (POGO) contributions, underscores severe market disruption within the jurisdiction.","focusai_entities":"Philippine Amusement and Gaming Corp (Pagcor), City of Dreams Manila, Okada Manila, Resorts World Manila, Solaire Resort and Casino","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Pagcor Recovery Strategy","query":"What specific governance frameworks and policy adjustments is Pagcor implementing to accelerate market recovery and stabilize GGR contributions from both land-based and offshore gaming verticals?"},{"label":"POGO Sector Viability","query":"Given the 60% decline in POGO income, what are the long-term implications for the B2B licensing structure and the operational sustainability of the offshore gaming sector in the Philippines?"}],"footnotes":""},"categories":[160,161,163,158,16333],"tags":[405,128],"class_list":["post-11292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-daily-news","category-finance-news","category-slider-home","category-south-east-asia-news","tag-pagcor","tag-philippines"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11292"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11292\/revisions"}],"predecessor-version":[{"id":11297,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11292\/revisions\/11297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11294"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}