Asia FY/Q4 2022 round-up: PAGCOR gaming income up 69%, Donaco EBITDA at $1.8m
The Philippine Amusement and Gaming Corp (PAGCOR) has reported a 69% income from its gaming operations, rising to PHP 55.1bn (US$1bn).
Both regulator and operator in the Philippines, PAGCOR’s finances have been boosted in 2022 by the reopening of borders and relaxed Covid-19 measures.
These full-year results became apparent once the regulator-cum-operator’s Q4 2022 report was published, which showed a 9% income increase from September-December 2022 to PHP 15.9bn.
Despite the significant year-on-year gains made by PAGCOR, its results still have somewhere to go to match its net income from 2019, when it made an income of PHP 9.01bn.
Attaining these figures once again may prove difficult, given the current debate around PAGCOR’s role as both a regulator and operator.
In recent weeks, Philippines Senator Win Gatchalian proposed a separate regulator be introduced, leaving PAGCOR to act solely as an operator.
This came amid claims PAGCOR was allowing operators potentially involved in criminal activity to continue operating in the Philippines.
Elsewhere, casino operator Donaco has delivered a positive EBITDA of AU$1.8m during Q4 2022, citing the return of international travel as the cause of this financial uptick.
The company also posted net revenue of AU$5.3m (US$3.7m), which Donaco says is a result of the DNA Star Vegas casino reopening.
The DNA Star Vegas reached EBITDA of AU$2.7m alone for Q4 – once again achieving full operational capacity.
The DNA Star Vegas is based in Cambodia – and as a foreign-player-only casino – is heavily reliant on international travel, which has now returned to the country.
The company adds its outlook for China is “increasingly” positive after the region has reemerged from Covid following three years of isolation.
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