Sunday, June 23, 2024
HomeNewsPhilippinesPAGCOR sees $54 million in 1H23 profit

PAGCOR sees $54 million in 1H23 profit

The Philippine Gaming and Amusement Corporation (PAGCOR) has recorded a net profit of some PHP2.96 billion  ($54.07 million)for the first half-year, a 37.36 percent increase compared to last year’s figures.

The group notes that gaming operations contributed some PHP34.12 billion ($623.26 million) in revenue during the period, an increase of 38.03 percent, while other services contributed some PHP1.5 billion ($27.4 million), up 69.55 percent.

Total income from the operator/regulator amounted to PHP36.21 billion ($661.43 million) during the period, up 35.64 percent yearly. Simultaneously costs rose by some 16.99 percent yearly, to PHP12.33 billion ($225.24 million).

PAGCOR’s Chairman, Alejandro H. Tengco, has been keen on clawing back revenues from operators, as well as going after non-contributing segments in the nation’s gaming diaspora.

The country is looking to quickly grow its gross gaming revenue after COVID, leveraging land-based and online offerings even as the nation fights over the legitimacy of POGOs.

Kelsey Wilhelm
Kelsey Wilhelmhttps://agbrief.com
Kelsey Wilhelm is a broadcast, print journalist and editor based in Asia for over 15 years. Focused on content creation, management, cross-cultural exchange and interviews for multi-lingual productions. Writing focus on gaming, business, politics, culture and heritage, events and celebrities, subcultures, music, film, art and fashion. Some of Kelsey's specialties are: editing, writing, copy creation, multi-lingual content production, cross-cultural exchange, content creation and management for Asian markets.

MORE ARTICLES

FOLLOW US

daily newsletter