{"id":777001913,"date":"2023-01-31T14:07:23","date_gmt":"2023-01-31T17:07:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777001913"},"modified":"2026-04-23T01:04:43","modified_gmt":"2026-04-23T04:04:43","slug":"pagcor-posts-income-of-us1-08bn-for-2022","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-posts-income-of-us1-08bn-for-2022","title":{"rendered":"PAGCOR posts income of US$1.08bn for 2022"},"content":{"rendered":"\n

PAGCOR has reported that income grew 66.2 per cent on year-on-year terms to PHP58.96bn.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- The Philippine Amusement and Gaming Corp (PAGCOR) <\/strong>has reported income of PHP58.96bn (US$1.08bn) for the year 2022. The figure was up 66.2 per cent when compared to the previous year<\/a>.<\/p>\n\n\n\n

The dual regulator and operator reported PHP55.05bn (US$1bn) in income from gaming operations<\/strong>, up 68.7 per cent yearly. Meanwhile, its expenses increased by 61.4 per cent year-on-year to PHP22.59bn. PAGCOR had to withdraw nearly PHP31.65bn in subsidies, financial aid and other contributions to the government.<\/p>\n\n\n\n

It reported net revenue of nearly PHP4.45bn<\/strong> in 2022, compared to PHP203.57m in 2021. The 2021 results were affected by multiple countermeasures associated with the Covid-19 pandemic. However, 2022 performance was still only half of the PHP9.01bn reported in 2019 before the pandemic.<\/p>\n\n\n\n

The financial report comes amid new calls to privatise PAGCOR\u2019s gaming operations<\/a> to fund the Maharlika Investment Fund (MIF). Former senate president Franklin Drilon <\/strong>said the privatisation of PAGCOR\u2019s gaming and the Philippine Charity Sweepstakes Office (PCSO) would generate up to PHP300bn (US$5.5bn) a year that could fund the government\u2019s proposed sovereign investment fund.<\/p>\n\n\n\n

PAGCOR currently contributes 10 per cent of gross gaming revenue (GGR) to the MIF<\/strong>. The main contributor to the fund is the Land Bank of the Philippines (LBP), set to contribute some PHP50bn (US$917.59m).<\/p>\n\n\n\n

If PAGCOR\u2019s gaming operations are privatised, Drilon said that the government would not need to use the dividends generated by the LBP and government financial institutions such as the Bangko Sentral ng Pilipinas (BSP), Development Bank of the Philippines (DBP) and Land Bank of the Philippines (LBP) to fund the MIF.<\/p>\n","protected":false},"excerpt":{"rendered":"

PAGCOR has reported that income grew 66.2 per cent on year-on-year terms to PHP58.96bn.<\/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 66.2% year-on-year income growth to PHP58.96bn in 2022, with gaming operations contributing PHP55.05bn, signaling a strong recovery from pandemic impacts, though still below pre-pandemic levels. This financial report coincides with renewed calls for the privatization of PAGCOR's gaming operations to generate up to PHP300bn annually for the Maharlika Investment Fund.","focusai_entities":"Philippine Amusement and Gaming Corp (PAGCOR), Franklin Drilon, Philippine Charity Sweepstakes Office (PCSO), Maharlika Investment Fund (MIF), Land Bank of the Philippines (LBP), Bangko Sentral ng Pilipinas (BSP), Development Bank of the Philippines (DBP)","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.75), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (0.95), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Privatization Market Impact","query":"What are the projected GGR and NGR implications for the Philippine iGaming market if PAGCOR's gaming operations are fully privatized, and how would this reshape the competitive landscape for B2C operators and B2B suppliers?"},{"label":"Maharlika Fund Funding","query":"How would the proposed PHP300bn annual revenue from PAGCOR and PCSO privatization compare to the current contributions to the Maharlika Investment Fund, and what are the fiscal implications for the Philippine government's sovereign wealth strategy?"}],"footnotes":""},"categories":[163,16333],"tags":[405],"class_list":["post-777001913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001913","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=777001913"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001913\/revisions"}],"predecessor-version":[{"id":777001942,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001913\/revisions\/777001942"}],"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=777001913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777001913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777001913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}