{"id":8536,"date":"2020-07-29T22:45:45","date_gmt":"2020-07-29T22:45:45","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=8536"},"modified":"2026-04-24T03:13:10","modified_gmt":"2026-04-24T06:13:10","slug":"pagcor-reports-us32-5m-loss-in-first-half","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-reports-us32-5m-loss-in-first-half","title":{"rendered":"PAGCOR reports US$32.5m loss in first half"},"content":{"rendered":"\n

The operator and regulator looks to have lost US$48m in the second quarter of the year as most of Manila’s casinos remain closed due to Covid-19 measures.<\/p>\n\n\n\n\n\n\n\n

Philippines.- With the main casinos at Metro Manila still under General Community Quarantine, the Philippine Amusement and Gaming Corporation (PAGCOR) has posted a loss of US$32.5 million for the first six months of the year.<\/p>\n\n\n\n

PAGCOR<\/em><\/strong> didn’t break down the results into quarters, but given that it posted a profit of Php777.4 million (US$15.8 million) in Q1, it seems it lost Php2.38 billion (US$48.4 million) in the second quarter.<\/p>\n\n\n\n

Income from gaming operations was down 49.6 per cent in the first half of the year to Php18.44 billion (US$376 million), but Php17.22 billion (US$350.4 million) of that was from Q1.<\/p>\n\n\n\n

This would mean gaming revenues in the last quarter amounted to only Php1.22 billion (US$24.8 million).<\/p>\n\n\n\n

Its own licenced casinos accounted for Php6.80 billion (US$138.4 million), all from the first quarter as they remain closed since March 15.<\/p>\n\n\n\n

Income from Philippine offshore gaming operators was Php2.92 billion (US$59.4 million) of which Php1.11 billion (US$22.6 million) was second quarter income.<\/p>\n\n\n\n

The grave danger for local casinos now, including PAGCOR\u2019s, is that Manila could go back into a stricter quarantine phase<\/a><\/em><\/strong> if Covid-19 cases continue to rise.<\/p>\n\n\n\n

The current phase is set to last at least until July 31<\/a><\/em><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The operator and regulator looks to have lost US$48m in the second quarter of the year as most of Manila’s casinos remain closed due to Covid-19 measures.<\/p>\n","protected":false},"author":2,"featured_media":8538,"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) reported a US$32.5 million loss for H1, primarily driven by an estimated US$48.4 million loss in Q2 due to extensive casino closures in Metro Manila under COVID-19 quarantine measures. Gaming operations income plummeted by 49.6% in H1, with Q2 revenues from gaming operations at only US$24.8 million, highlighting the severe impact on land-based casino verticals. Philippine Offshore Gaming Operators (POGOs) contributed US$22.6 million in Q2, demonstrating relative resilience.","focusai_entities":"Philippine Amusement and Gaming Corporation, PAGCOR, Philippine offshore gaming operators","focusai_location":"Philippines, Manila, Metro Manila","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.7), operator_casino (1.0), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR Revenue Outlook?","query":"What is PAGCOR's projected revenue recovery timeline and strategy for H2, considering potential extended quarantine measures and the performance disparity between land-based and POGO verticals?"},{"label":"Impact on Manila Operators?","query":"How are the major integrated resort operators in Metro Manila mitigating the sustained revenue losses, and what are their liquidity positions given the prolonged operational suspensions?"}],"footnotes":""},"categories":[163,16333],"tags":[20778,405,128],"class_list":["post-8536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-financial-results","tag-pagcor","tag-philippines"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8536","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8536"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8536\/revisions"}],"predecessor-version":[{"id":777010513,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8536\/revisions\/777010513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8538"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}