an increase of 57 per cent from 2020<\/a>. According to the report, of the amount classified as uncollected for more than a year, PHP815.9m is under \u201cprotest\u201d by POGOs. The COA said the remaining PHP1.512bn had been uncollected for more than one to five years.<\/p>\n\n\n\nAuditors said: “The presence of substantial accounts receivable from POGOs has been a persistent issue for several years, despite the existence of collection procedures under Pagcor\u2019s offshore gaming regulatory manual.\u201d<\/p>\n\n\n\n
PAGCOR\u00a0responded: “The affected POGOs, due to the substantial amount of the regulatory fees, filed protest letters on various dates from May 2018 to October 2019. Some of the affected POGOs partially paid while some did not pay the billed amount, hence\u2026 the outstanding balances.”<\/p>\n\n\n\n
For the first quarter of the year, PAGCOR reported revenue from gaming operations was up 35 per cent year-on-year to\u00a0PHP11.29bn (US$225.8m).<\/strong>\u00a0Net income was up 35.05 per cent to PHP624.7m (US$11.8m). PAGCOR said PHP6.73bn in taxes and dues were paid in the first quarter. Spending rose 53.9 per cent year-on-year in the first three months of 2022 to nearly PHP5.07bn.<\/p>\n","protected":false},"excerpt":{"rendered":"The Commission on Audit has revealed that PAGCOR has outstanding receivables of nearly PHP2.33bn from Philippine offshore gaming operators.<\/p>\n","protected":false},"author":176,"featured_media":18146,"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 Commission on Audit (COA) has revealed that PAGCOR faces persistent challenges in collecting nearly PHP2.33bn in receivables from Philippine offshore gaming operators (POGOs), with a significant portion under protest. This 57% increase in uncollected debt from 2020 highlights ongoing regulatory compliance and governance framework issues within the Philippine iGaming sector. Despite these collection difficulties, PAGCOR reported robust Q1 2022 gaming revenue and net income growth.","focusai_entities":"Commission on Audit (COA), Philippine Amusement and Gaming Corporation (PAGCOR), Philippine offshore gaming operators (POGOs)","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"PAGCOR Enforcement Strategy?","query":"What specific enforcement actions and legal recourse mechanisms will PAGCOR implement to compel payment of the PHP2.33bn in outstanding regulatory fees, especially for amounts under protest?"},{"label":"Regulatory Framework Impact?","query":"How might this persistent collection deficit influence the evolution of the Philippine's iGaming regulatory framework, potentially leading to stricter B2B\/B2C licensing conditions or revised governance protocols?"}],"footnotes":""},"categories":[163,16333],"tags":[405,15789],"class_list":["post-31063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-pagcor","tag-pogos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31063","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31063"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31063\/revisions"}],"predecessor-version":[{"id":31100,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31063\/revisions\/31100"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18146"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}