PAGCOR net income more than doubles in first half

MANILA -- The Philippine Amusement and Gaming Corporation (PAGCOR) said its net income climbed to P6.56 billion in the first half of 2024, more than double the P2.96 billion it posted in the first half of 2023.

Total Philippine gaming industry gross gaming revenue or GGR on the other hand grew 19.2 percent to P194.74 billion from the P163.36 billion GGR in the first semester of 2023.

Because of this, the gaming regulator was able to remit P31.82 billion to the national treasury, its chairman and chief executive officer Alejandro Tengco said. 

It only remitted P22.62 billion in the first six months of 2023.

In a statement, PAGCOR said the growth in net income is because of gross revenues jumping 42.92 percent to P51.76 billion, from P36.21 billion from January to June 2023. 

Gaming operations made up the bulk of revenues at P45.39 billion.

PAGCOR said almost half of the gaming revenues came from e-games, e-bingo and bingo operators, which brought in P20.66 billion.

Meanwhile, integrated resorts or licensed casinos brought in P16.06 billion. 

PAGCOR-operated casinos under the Casino Filipino brand gave P6.93 billion to the total gaming revenues.

PAGCOR net income up in 2023

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