{"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<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Net income was up 42.57 per cent year-on-year.<\/span><\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">The Philippines.-\u00a0The <strong>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\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-reports-net-income-of-us317-97m-for-q1\" target=\"_blank\" rel=\"noreferrer noopener\">year-on-year<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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<p class=\"wp-block-paragraph\">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<p class=\"wp-block-paragraph\">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<p class=\"wp-block-paragraph\">\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&nbsp;allows&nbsp;the sector to offer more excitement and convenience to gamers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\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.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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<p class=\"wp-block-paragraph\"><strong>See also:<\/strong>&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-appoints-wilma-eisma-as-president-and-coo\" rel=\"noreferrer noopener\">PAGCOR appoints Wilma Eisma as president and COO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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}]}}