PAGCOR reports total income of $1.41 billion in 2023

The nation’s casino regulator, the Philippine Amusement and Gaming Corp (PAGCOR), reported a total income for the fiscal year 2023 of over PHP79.38 billion (US$1.41 billion).

As to the data released on Tuesday, there was an astounding 34.6% increase in comparison to the previous year’s PHP58.96 billion.

At PHP73.11 billion, the gross income from gaming activities surged by 32.8% annually.

PAGCOR’s 2023 total expenses came to over PHP26.65 billion, an increase of 18.0% from the previous year. In addition, PAGCOR withheld just under PHP45.63 billion in subsidies, financial assistance, and other government contributions; this represents a 44.2% increase over the PHP31.65 billion withheld the year before for similar reasons.

PAGCOR’s net income for 2023 was around PHP6.82 billion, a noteworthy increase of 53.3% over the little less than PHP4.45 billion recorded in 2022.

In the Philippines, PAGCOR manages all casinos, including those built privately, and runs government-owned casinos. It has a casino network of its own known as “Casino Filipino.”

Original story by: GGRAsia