Pagcor revenue likely to gain 1.8 percent in 2020

Pagcor office
Pagcor office

The Philippine Gaming and Amusement Corp. (PAGCOR) expects its total revenue to rise by 1.8 percent in 2020, with PHP73.6 billion ($1.4 billion) likely to come from gaming.

PAGCOR Vice President James Patrick Bondoc gave the figures in a presentation to the House Committee on Appropriations, according to local media reports.

He expects total income of PHP75.1 billion, up from an estimated PHP73.8 billion for this year. 

The Philippine regulator said part of that figure will come from Philippine Offshore Gambling Operators (POGOs). For this year, PAGCOR expects PHP8 billion from its online gambling licensees.

PAGCOR last week said it would put a temporary halt on issuing new POGO licenses after pressure from China. 

Bondoc said the total operating expenses are expected to reach PHP19.7 billion, up by 16.7 percent from this year’s estimation of P16.8 billion.

However, the regulator’s contribution to nation-building, such as funding infrastructure projects, are likely to fall to PHP49.7 billion, lower than 2019’s PHP51.5 billion estimated contributions.