{"id":777022648,"date":"2025-02-06T08:36:43","date_gmt":"2025-02-06T11:36:43","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777022648"},"modified":"2026-04-22T02:05:27","modified_gmt":"2026-04-22T05:05:27","slug":"pagcor-breaks-ground-on-new-corporate-office-in-pasay-city","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-breaks-ground-on-new-corporate-office-in-pasay-city","title":{"rendered":"PAGCOR breaks ground on new corporate office in Pasay City"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The project is due to be finished by 2028.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) has broken ground for its planned <strong>corporate office <\/strong>in Bagong Nayong Pilipino, Pasay City, Metro Manila.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The cost of the office development will be PHP2.45bn (US$42.2m). It will be financed and built by San Miguel Corporation (SMC) at no cost to PAGCOR. The project is due to be finished by 2028.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In December, PAGCOR signed <a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-signs-25-year-lease-with-san-miguel-for-nayong-pilipino-property\" rel=\"noreferrer noopener\">a&nbsp;25-year lease agreement<\/a>&nbsp;allowing SMC to use PAGCOR\u2019s 15-hectare Nayong Pilipino property in Pasay City.&nbsp;In exchange, SMC committed to build PAGCOR\u2019s new office, which will cover 40,000 square meters of the site.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"margin: 0px;padding: 0px\">PAGCOR chairman and CEO&nbsp;<strong>Alejandro H. Tengco<\/strong>&nbsp;said that since PAGCOR will not occupy all 40,000 square metres, it is planning to lease some of the commercial spaces to generate rental income. He said, &#8220;These rental earnings should be enough to cover the building\u2019s maintenance costs.<\/span>&#8220;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>PAGCOR<\/strong> posted record revenue of PHP112bn (US$1.92bn) for 2024, up 41 per cent\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-posts-income-of-us1-41bn-for-2023\" target=\"_blank\" rel=\"noreferrer noopener\">in year-on-year terms<\/a>. The regulator posted\u00a0<strong>net operating income<\/strong>\u00a0of PHP84.97bn (US$1.46bn), up 51 per cent year-on-year. Net income after contributions to nation-building reached PHP16.77bn (US$287m), up 146 per cent year-on-year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;<strong>e-games and e-bingo sectors<\/strong>&nbsp;became the biggest contributors with PHP48.79bn (US$836m) or 50.3 per cent of all gaming revenues.&nbsp;<strong>Casinos&nbsp;<\/strong>contributed PHP33.07bn (US$567m) while&nbsp;<strong>commercial casinos licensed by PAGCOR<\/strong>&nbsp;brought in PHP12.67bn (US$217m). Offshore gaming operators which were&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/president-marcos-issues-executive-order-banning-offshore-gambling-operators-in-the-philippines\" rel=\"noreferrer noopener\">banned in December<\/a>, contributed PHP2.99bn (US$51m).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Contributions to nation-building&nbsp;<\/strong>increased by 37.61 per cent, reaching PHP68.20bn (US$1.17bn). This includes PHP46.32bn (US$793m) remitted to the National Treasury, PHP4.87bn (US$83m) in franchise taxes and PHP1.09bn (US$19m) in corporate income taxes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Other allocations included PHP2.31bn (US$40m) for the Philippine Sports Commission, PHP91.88m in incentives for athletes and coaches participating in international competitions, and PHP12.37bn (US$212m) for socio-civic programs under the Office of the President. Additional funds were distributed to the host cities of Casino Filipino branches (PHP60m), the Board of Claims under the Department of Justice (PHP80m), and the Renewable Energy Trust Fund (PHP1m).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project is due to be finished by 2028.<\/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 Corporation (PAGCOR) has commenced construction of its new corporate headquarters in Pasay City, financed by San Miguel Corporation (SMC) in exchange for a 25-year lease agreement. This strategic asset development coincides with PAGCOR reporting record 2024 revenues of PHP112bn, primarily driven by the e-games and e-bingo verticals, underscoring robust growth in the Philippine iGaming sector. The new facility is also projected to generate rental income, enhancing PAGCOR's operational sustainability.","focusai_entities":"Philippine Amusement and Gaming Corporation (PAGCOR), San Miguel Corporation (SMC), Alejandro H. Tengco, National Treasury, Philippine Sports Commission, Department of Justice, Office of the President","focusai_location":"Philippines, Pasay City, Metro Manila","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.7), operator_casino (0.85), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"PAGCOR Revenue Impact","query":"How will PAGCOR's record 2024 revenue, particularly from e-games and e-bingo, influence future B2B\/B2C licensing frameworks and regulatory compliance priorities in the Philippines?"},{"label":"New Office Strategy","query":"What are the long-term governance and operational implications of PAGCOR's new corporate office development, financed by San Miguel Corporation, and its strategy to generate rental income from commercial spaces?"}],"footnotes":""},"categories":[157,16333],"tags":[405],"class_list":["post-777022648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022648","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=777022648"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022648\/revisions"}],"predecessor-version":[{"id":777022652,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022648\/revisions\/777022652"}],"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=777022648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}