{"id":6011,"date":"2020-04-28T11:16:07","date_gmt":"2020-04-28T11:16:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=6011"},"modified":"2026-04-24T05:42:06","modified_gmt":"2026-04-24T08:42:06","slug":"pagcor-profits-q1-philippines","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-profits-q1-philippines","title":{"rendered":"PAGCOR profits drop 50% in Q1"},"content":{"rendered":"\n<p>Profit for the period fell by 49.9 per cent to Php777.4million (US$15.3million).<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Philippines.- <em><strong><a href=\"https:\/\/www.pagcor.ph\/\">PAGCOR<\/a><\/strong><\/em> has announced close to a 50 per cent drop in profits for the first quarter of 2020 due to the impact of the Covid-19 pandemic.<\/p>\n\n\n\n<p>According to PAGCOR\u2019s statement of comprehensive income for 1Q20, profit for the period fell by 49.9 per cent to Php777.4million (US$15.3million).<\/p>\n\n\n\n<p>The figure is significantly lower than its pre-2020 target of Php1.42billion (US$28million) for the first three months of the year<\/p>\n\n\n\n<p>Casinos across Manila have been closed since March 15, while the remaining venues across the Philippines have been shut from the 16.<\/p>\n\n\n\n<p>Philippines President Rodrigo Duterte <a href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-pogos-lockdown\"><strong><em>extended lockdown measures in certain parts of the country<\/em><\/strong><\/a> for an additional two weeks on top of the previous dates, with the new quarantine deadline set to May 15.<\/p>\n\n\n\n<p><a href=\"http:\/\/www.pagcor.ph\/regulatory\/offshore-gaming.php\"><strong><em>Philippine Offshore Gaming Operators\u00a0<\/em><\/strong><\/a>(POGOs) will also remain suspended during the period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Profit for the period fell by 49.9 per cent to Php777.4million (US$15.3million).<\/p>\n","protected":false},"author":2,"featured_media":0,"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 49.9% decline in Q1 2020 profits, reaching Php777.4 million (US$15.3 million), significantly below its Php1.42 billion target. This substantial reduction is attributed to the widespread impact of the Covid-19 pandemic, leading to the closure of land-based casinos across the Philippines and the suspension of Philippine Offshore Gaming Operators (POGOs) until at least May 15.","focusai_entities":"PAGCOR, Rodrigo Duterte","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"POGO Revenue Impact?","query":"What is the estimated NGR contribution from POGOs to PAGCOR's overall revenue, and how will their extended suspension impact the full-year fiscal outlook?"},{"label":"Recovery Projections?","query":"What are PAGCOR's revised GGR and NGR projections for FY2020, considering the extended lockdown and potential phased reopening strategies for land-based and offshore operations?"}],"footnotes":""},"categories":[160,28,161,163,158,16333],"tags":[12436,1428,405,128,15789],"class_list":["post-6011","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-casino-news","category-daily-news","category-finance-news","category-slider-home","category-south-east-asia-news","tag-casinos","tag-manila","tag-pagcor","tag-philippines","tag-pogos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6011","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=6011"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6011\/revisions"}],"predecessor-version":[{"id":6025,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6011\/revisions\/6025"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}