{"id":777012778,"date":"2024-01-31T08:41:34","date_gmt":"2024-01-31T11:41:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777012778"},"modified":"2026-04-22T13:28:44","modified_gmt":"2026-04-22T16:28:44","slug":"pagcor-posts-income-of-us1-41bn-for-2023","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-posts-income-of-us1-41bn-for-2023","title":{"rendered":"PAGCOR posts income of US$1.41bn for 2023"},"content":{"rendered":"\n<p>PAGCOR has reported a 34.6 per cent year-on-year increase for the full year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.-\u00a0The Philippine Amusement and Gaming Corporation (PAGCOR)\u00a0has released its financial report for the year 2023. It posted income of PHP79.38bn (US$1.41bn), <a href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-posts-income-of-us1-08bn-for-2022\" target=\"_blank\" rel=\"noreferrer noopener\">a year-on-year increase of 34.6 per cent<\/a>.<\/p>\n\n\n\n<p>The regulator posted gross income from gaming operations of PHP73.11bn (US$1.30bn), up 32.8 per cent year-on-year. Total comprehensive income was PHP6.82bn (US$121m), up 53.3 per cent in year-on-year terms. Expenses for 2023 increased by 18 per cent year-on-year to nearly PHP26.65bn.\u00a0<\/p>\n\n\n\n<p>The regulator deducted approximately PHP45.63bn (US$809m) in government subsidies, financial assistance and other contributions. That figure was up 44.2 per cent from PHP31.65bn in 2022.<\/p>\n\n\n\n<p><strong>See also:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-funded-housing-projects-inaugurated-in-balete-and-taal\" rel=\"noreferrer noopener\">PAGCOR-funded housing projects inaugurated in Balete and Taal<\/a><\/p>\n\n\n\n<p>Earlier this month, PAGCOR reported that\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-up-33-in-2023\" target=\"_blank\" rel=\"noreferrer noopener\">gross gaming revenues (GGR) for 2023 was up 33 per cent year-on-year<\/a>\u00a0to PHP285bn (US$5.1bn). That surpassed the set target of PHP273bn and outperformed the previous high of PHP256.49bn recorded in 2019, before the Covid-19 pandemic.\u00a0<\/p>\n\n\n\n<p>Casinos remained the primary revenue contributors, accounting for PHP207.5bn (US$3.7bn), followed by the electronic games sector with PHP58.16bn (US$1.04bn). Commercial casinos licensed by PAGCOR contributed PHP19.62bn (US$352m) to the overall GGR.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PAGCOR has reported a 34.6 per cent year-on-year increase for the full year.<\/p>\n","protected":false},"author":176,"featured_media":20685,"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 financial performance for 2023, with total income increasing by 34.6% year-on-year to PHP79.38bn and gross gaming revenues (GGR) reaching PHP285bn, a 33% increase. This GGR figure surpassed both the set target and pre-pandemic levels, driven primarily by the casino and electronic games sectors, while significant contributions were made to government subsidies.","focusai_entities":"Philippine Amusement and Gaming Corporation, PAGCOR","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Growth Drivers?","query":"What specific operational or policy changes implemented by PAGCOR or its licensees contributed most significantly to the 33% year-on-year GGR growth, particularly in surpassing pre-pandemic levels?"},{"label":"Future Regulatory Contributions?","query":"Given the 44.2% increase in government subsidies and contributions, what is PAGCOR's projected outlook for these deductions in 2024, and how might this impact its net income and reinvestment capacity?"}],"footnotes":""},"categories":[163,158,16333],"tags":[23632,23907],"class_list":["post-777012778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012778","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=777012778"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012778\/revisions"}],"predecessor-version":[{"id":777012799,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012778\/revisions\/777012799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20685"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}