PAGCOR Q3 revenues are up by 42% reaching to PHP79.43 billion

[Wolf32]

The Philippine Amusement and Gaming Corporation (PAGCOR) unveiled that the revenues of Q3 have reached PHP79.43 billion, up 42% from the PHP55.95 billion revenues year-on-year.

Alejandro Tengco, Chairman and Chief Executive Officer of PAGCOR commented:

The Electronic Games sector alone contributed Php28.22 billion or 35.52% to the gaming revenue pie, followed by the licensed casino sector which chipped in 30.84% or Php24.50 billion from licensee fees. Our third quarter performance is a strong indication that in spite of the President’s decision to ban offshore gaming operations in the country, we are still on track to meet our Php100 billion revenue target by yearend.

Net income for the first nine months, meanwhile, was at Php9.63 billion, nearly double last year’s Php4.85 billion.

Of PAGCOR’s Php79.43 billion revenues, Php69.88 billion came from gaming operations and license fees; Php6.43 billion from other related services; and other income at Php3.11 billion.

Mr. Tengco said bigger revenues means PAGCOR’s contributions to nation-building also increased by 40.39% to Php48.88 billion compared to last year’s Php34.82 billion:

From our total contributions to nation-building, Php33.19 billion went to the National Treasury as 50% government share. Half of the remittances to the national coffers — or Php16.59 billion – has been earmarked for PhilHealth to fund the Universal Healthcare Law.