The Philippine Amusement and Gaming Corporation (PAGCOR) saw its income nearly double yearly during the first nine months of the year, with electronic games the strongest contributor.
Net income for the period was PHP9.63bn (US$165m), compared to the PHP4.85bn ($83m) recorded between January and end-September of 2023.
Revenue for the first nine months of the year reached PHP79.43bn ($1.36bn), up 42 per cent from PHP55.95bn ($960m) in the same period last year.
The state gaming regulator’s notable performance, according to PAGCOR chairman and CEO Alejandro H. Tengco, was driven by the robust electronic games sector, followed by the country’s licensed casinos and integrated resorts.
“The electronic games sector alone contributed PHP28.22bn, or 35.52 per cent, to the gaming revenue pie, followed by the licensed casino sector, which contributed 30.84 per cent, or PHP24.50bn ($420m), from licensee fees,” stated the official.
Source: Asia Gaming Brief