{"id":777015086,"date":"2024-04-29T09:38:32","date_gmt":"2024-04-29T12:38:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015086"},"modified":"2026-04-22T10:44:06","modified_gmt":"2026-04-22T13:44:06","slug":"pagcor-reports-net-income-of-us437-9m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-reports-net-income-of-us437-9m-for-q1","title":{"rendered":"PAGCOR reports net income of US$437.9m for Q1"},"content":{"rendered":"\n

Net income was up 42.57 per cent year-on-year.<\/span><\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0The Philippine Amusement and Gaming Corp (PAGCOR)\u00a0<\/strong>has shared its financial results for the first quarter of the year. It\u2019s reported net income of PHP25.24bn (US$437.9m) up 42.57 per cent\u00a0year-on-year<\/a>.<\/p>\n\n\n\n

Net operating income after expenses during the quarter was up 54.22 per cent in year-on-year terms to PHP18.99 bn (US$329.4m).\u00a0With PHP22.29bn (US$386.7m), gaming operations accounted for the majority of Q1 revenue. Some 43.46 per cent, or PHP9.69bn (US$168.1m), of that total came from the e-games sector (eBingo, eGames and Bingo grantees), while PHP8.04bn (US$139.4m), or 36.06 per cent, came from licenced casinos.<\/p>\n\n\n\n

Revenue from PAGCOR-run casinos under the Casino Filipino brand was down 20.68 per cent when compared to last year at PHP3.7bn (US$64.1m). Offshore gaming operations contributed PHP860.89m (US$14.9m).<\/p>\n\n\n\n

Alejandro H. Tengco, chairman and chief executive officer of PAGCOR, said: \u201cWe are happy to announce that PAGCOR\u00a0is able to\u00a0sustain our growth trajectory in the first quarter of 2024 and this should help position us\u00a0into achieving\u00a0another record-breaking year.<\/p>\n\n\n\n

\u201cAs we said earlier, the E-games sector will be our major source of gaming revenues this year and in the next few years as innovation and technological integration allows the sector to offer more excitement and convenience to gamers.<\/p>\n\n\n\n

\u201cOur robust earnings also bode well for the government\u2019s various socio-civic programs including funding for the Universal Healthcare Program which provides health insurance to millions of poor Filipinos through Philhealth.”<\/p>\n\n\n\n

Of the almost PHP19bn (US$329.6m) earned by PAGCOR in the first quarter, PHP15.56bn (US$269.9m) will be used for social projects. This includes the 5 per cent franchise tax, 50 per cent government share, shares for LGUs hosting PAGCOR casinos, socio-civic projects, 5 per cent for the Philippine Sports Commission and 1 per cent for the Board of Claims to compensate people wrongfully convicted.<\/p>\n\n\n\n

See also:<\/strong> PAGCOR appoints Wilma Eisma as president and COO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Net income was up 42.57 per cent year-on-year.<\/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":"The Philippine Amusement and Gaming Corp (PAGCOR) reported a robust Q1 2024 financial performance, with net income surging 42.57% year-on-year to PHP25.24bn (US$437.9m). Gaming operations, primarily driven by the e-games sector (eBingo, eGames, Bingo grantees) which contributed 43.46% of gaming revenue, accounted for the majority of this growth. PAGCOR's CEO, Alejandro H. Tengco, emphasized the strategic importance of e-games for future revenue and highlighted the substantial allocation of earnings towards government socio-civic programs.","focusai_entities":"Philippine Amusement and Gaming Corp (PAGCOR), Alejandro H. Tengco, Philhealth, Philippine Sports Commission, Board of Claims, Wilma Eisma","focusai_location":"The Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), operator_casino (0.85), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"E-games Sector Growth Drivers?","query":"What specific regulatory frameworks or technological innovations are PAGCOR leveraging to sustain the projected growth trajectory of the e-games sector in the Philippines?"},{"label":"Impact on Licensed Operators?","query":"How does the significant revenue contribution from PAGCOR's e-games sector and the decline in PAGCOR-run casino revenue influence the competitive landscape and market share for privately licensed casino operators in the Philippines?"}],"footnotes":""},"categories":[163,158,16333],"tags":[405],"class_list":["post-777015086","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\/777015086","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=777015086"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015086\/revisions"}],"predecessor-version":[{"id":777015119,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015086\/revisions\/777015119"}],"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=777015086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}