{"id":777017063,"date":"2024-07-09T09:25:42","date_gmt":"2024-07-09T12:25:42","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777017063"},"modified":"2026-04-22T08:21:06","modified_gmt":"2026-04-22T11:21:06","slug":"pagcor-remits-us55-9bn-to-philippine-national-treasury","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-remits-us55-9bn-to-philippine-national-treasury","title":{"rendered":"PAGCOR remits US$55.9bn to Philippine National Treasury"},"content":{"rendered":"\n<p>PAGCOR\u2019s contribution to the government was up 25 per cent year-on-year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.-\u00a0<strong>The Philippine Amusement and Gaming Corp. (PAGCOR)<\/strong> remitted PHP3.27bn (US$55.9m) to the National Treasury in May. The figure was up 25 per cent when compared to the previous year.<\/p>\n\n\n\n<p>The total remitted in the first five months of the year was PHP17.38bn (US$297m), up 31 per cent from PHP13.25bn (US$226.5m) in the same period last year. PAGCOR\u2019s contributions to the Treasury during the first five months of this year have surpassed pre-pandemic levels (PHP13.25bn) in 2019. PAGCOR is expected to contribute PHP29.87bn (US$511m) to the Treasury this year.<\/p>\n\n\n\n<p>The regulator reported that <a href=\"https:\/\/focusgn.com\/asia-pacific\/e-games-revenue-pushes-philippines-ggr-to-a-new-high-for-q1\" target=\"_blank\" rel=\"noreferrer noopener\">gross gaming revenue (GGR)<\/a> was PHP81.70bn (US$1.4bn) for the first quarter, up 2 per cent sequentially and 18.54 per cent\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-up-80-9-for-q1\" target=\"_blank\" rel=\"noreferrer noopener\">year-on-year<\/a>. Although land-based casino GGR was down year-on-year, total GGR was up because electronic games revenue rose six fold to PHP22.5bn.<\/p>\n\n\n\n<p>The forecast for full-year GGR is PHP336bn (US$5.84bn). The first quarter total surpassed 24 per cent of the target.&nbsp;Gaming revenues are typically highest in the last quarter of the year, but first quarter GGR surpasses the record PHP80.12bn (US$1.39bn) seen in the last quarter of 2023.&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-up-33-in-2023\" rel=\"noreferrer noopener\">Full-year GGR for 2023<\/a>&nbsp;reached PHP285.27bn (US$4.95bn).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PAGCOR\u2019s contribution to the government was up 25 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":"PAGCOR reported a 25% year-on-year increase in May remittances to the National Treasury, totaling PHP3.27bn, with year-to-date contributions surpassing pre-pandemic levels. First-quarter Gross Gaming Revenue (GGR) reached PHP81.70bn, an 18.54% year-on-year increase, primarily driven by a six-fold surge in electronic games revenue despite a decline in land-based casino GGR. The full-year GGR forecast is PHP336bn, indicating robust sector recovery and growth.","focusai_entities":"Philippine Amusement and Gaming Corp., PAGCOR, National Treasury","focusai_location":"The Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.7), operator_casino (0.9), affiliate_publisher (0.7), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Growth Drivers","query":"What specific sub-verticals within electronic games are primarily contributing to the six-fold revenue increase, and what regulatory or market factors are driving this shift away from land-based casino GGR?"},{"label":"Future Regulatory Impact","query":"Given PAGCOR's significant financial contributions and GGR growth, what are the anticipated regulatory changes or policy shifts that could further impact market dynamics and investment attractiveness in the Philippines?"}],"footnotes":""},"categories":[163,158,16333],"tags":[23632,23907,405],"class_list":["post-777017063","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","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017063","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=777017063"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017063\/revisions"}],"predecessor-version":[{"id":777017097,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017063\/revisions\/777017097"}],"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=777017063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777017063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777017063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}