PAGCOR has reported a 31.9 per cent year-on-year increase in income, surpassing government targets.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0The Philippine Amusement and Gaming Corporation (PAGCOR)\u00a0<\/strong>has released its financial report for the nine months ending on September 30. It posted income of PHP51.66bn (US$906m). That’s a year-on-year increase of 31.9 per cent, surpassing the government’s fiscal targets.<\/p>\n\n\n\n The regulator posted revenue of PHP55.95bn (US$980m), up 32.4 per cent year-on-year, and a profit after tax of PHP37.1bn (US$650m), up 42.8 per cent. <\/p>\n\n\n\n In July, PAGCOR chairman and CEO\u00a0Alejandro Tengco\u00a0<\/strong>said\u00a0PAGCOR would surpass pre-pandemic revenue<\/a>\u00a0by the end of 2023.\u00a0He also said that PAGCOR is committed to shifting to a purely regulatory role and that the process would take place by the third quarter of 2025<\/a>.<\/p>\n\n\n\n PAGCOR currently regulates, authorises and licenses gaming in the Philippines but it also operates over 40 casinos itself<\/strong>. However, this dual role has been seen as a conflict of interests and a potentially unfair advantage over private-sector licensees.<\/p>\n","protected":false},"excerpt":{"rendered":" PAGCOR has reported a 31.9 per cent year-on-year increase in income, surpassing government targets.<\/p>\n","protected":false},"author":176,"featured_media":777008355,"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 robust 31.9% year-on-year increase in income for the first nine months, surpassing government fiscal targets. Concurrently, the state-owned entity reaffirmed its commitment to divest its operational assets and transition to a purely regulatory function by Q3 2025, addressing long-standing concerns regarding its dual role as both operator and regulator.","focusai_entities":"PAGCOR, Alejandro Tengco","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR Divestment Impact","query":"What specific governance framework adjustments and licensing regime modifications are anticipated as PAGCOR transitions to a purely regulatory role by Q3 2025, and how will this impact existing private-sector licensees?"},{"label":"Market Growth Outlook","query":"Given PAGCOR's strong financial performance, what are the projected GGR and NGR growth trajectories for the Philippine iGaming and land-based casino verticals through 2025, considering the impending regulatory restructuring?"}],"footnotes":""},"categories":[163,16333],"tags":[405],"class_list":["post-777010678","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\/777010678","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=777010678"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010678\/revisions"}],"predecessor-version":[{"id":777041062,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010678\/revisions\/777041062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777008355"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777010678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}