Electronic games continued to drive the earnings of the Philippine Amusement and Gaming Corp., the state-owned regulator and operator of casinos and other games of chance, whose revenue in the nine months through September rose 42 percent to P79.43 billion.
Electronic games contributed P28.23 billion, or 36 percent, of PAGCOR’s gaming revenue, while licensed casinos chipped in P24.50 billion in licensee fees. Other related services contributed P6.43 billion to revenue, while other income added P3.11 billion.
Net income for the January-September period was P9.63 billion, nearly double the P4.85 billion posted in the year-earlier period.
PAGCOR Chairman and Chief Executive Officer Alejandro Tengco said earnings performance remains robust in spite of President Ferdinand Marcos’s decision to ban offshore gaming operations in the country.
“We are still on track to meet our P100 billion revenue target by year-end,” Tengco said.
Tengco noted that bigger revenues mean PAGCOR’s contributions to nation-building have also increased by 40 percent to P48.88 billion compared to last year’s P34.82 billion.
“From our total contributions to nation-building, P33.19 billion went to the National Treasury as the government’s 50 percent share,” said Tengco. He added that half of the remittances to the national coffers—P16.59 billion—has been earmarked for PhilHealth to fund the Universal Healthcare Law.
