{"id":34926,"date":"2022-10-31T09:18:32","date_gmt":"2022-10-31T12:18:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=34926"},"modified":"2026-04-23T03:27:54","modified_gmt":"2026-04-23T06:27:54","slug":"pagcor-net-income-reaches-us60-1m-for-the-first-nine-months-of-2022","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-net-income-reaches-us60-1m-for-the-first-nine-months-of-2022","title":{"rendered":"PAGCOR net income reaches US$60.1m for the first nine months of 2022"},"content":{"rendered":"\n

PAGCOR’s income from gaming operations rose by 75.8 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- The Philippines Amusement and Gaming Corp (PAGCOR) <\/strong>has shared its financial results for the first nine months of the year. Net income grew from PHP183.92m to PHP3.48bn <\/strong>(US$60.1m). The regulator’s aggregate revenue was up 73.5 per cent to PHP42.27bn while income from gaming operations rose by 75.8 per cent to PHP39.17bn.<\/p>\n\n\n\n

It attributed the increase in revenue to the easing of Covid-19 restrictions<\/a>. Many casinos in the Philippines resumed full operations in March. PAGCOR\u2019s spending grew 64.7 per cent year-on-year to PHP16.09bn, with the regulator and operator paying an additional PHP2.49bn in taxes and contributions.<\/p>\n\n\n\n

See also:<\/strong> The Philippines to lift mandatory use of masks in bid to boost tourism<\/a><\/p>\n\n\n\n

PAGCOR’s latest financial report comes amid a debate about the possible privatisation of its gaming operations. Earlier this month, the Philippines\u2019 Governance Commission for Government-Owned or Controlled Corporations (GCG) renewed its proposal to separate PAGCOR\u2019s dual functions<\/a>.<\/p>\n\n\n\n

In 2018, the GCG had recommended to the then-president Rodrigo Roa Duterte that PAGCOR\u2019s commercial and regulatory functions be separated due to the conflict of interests<\/strong> caused by its dual role as both an operator of casinos and a regulatory of gaming operators. The Duterte administration didn\u2019t take up those recommendations at the time.<\/p>\n\n\n\n

According to the Manila Bulletin, GCG chairperson Alex L. Quiroz<\/strong> said the 2018 GCG recommendation is now being reviewed. However, the final decision on whether to privatise PAGCOR\u2019s casino operations will still depend on the current president. In August, Benjamin E. Diokno<\/strong>, the Philippines\u2019 finance secretary, said the issue of PAGCOR\u2019s potential conflict of interest<\/a> needed to be resolved.<\/p>\n","protected":false},"excerpt":{"rendered":"

PAGCOR’s income from gaming operations rose by 75.8 per cent year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":34644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR reported a significant 75.8% year-on-year increase in gaming operations income, reaching PHP39.17bn, driven by the easing of COVID-19 restrictions and full casino resumptions. This financial uplift coincides with renewed discussions regarding the potential privatization of PAGCOR's commercial assets and the separation of its dual operator-regulator functions, a long-standing governance concern. The decision rests with the current Philippine president, following recommendations from the GCG.","focusai_entities":"PAGCOR (Philippines Amusement and Gaming Corp), Governance Commission for Government-Owned or Controlled Corporations (GCG), Rodrigo Roa Duterte, Alex L. Quiroz, Benjamin E. Diokno","focusai_location":"The Philippines, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.8), operator_casino (1.0), affiliate_publisher (0.7), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"PAGCOR Privatization Impact","query":"What specific governance frameworks and licensing structures are being considered by the GCG for a privatized Philippine iGaming market, and what is the projected timeline for the current administration's decision?"},{"label":"Market Growth Drivers","query":"Beyond the easing of COVID-19 restrictions, what underlying macroeconomic factors and gaming vertical performance contributed to PAGCOR's substantial GGR increase, and are these trends sustainable for future growth projections?"}],"footnotes":""},"categories":[163,158,16333],"tags":[405],"class_list":["post-34926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34926","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=34926"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34926\/revisions"}],"predecessor-version":[{"id":34969,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34926\/revisions\/34969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/34644"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=34926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=34926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=34926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}