PAGCOR reports Q3 results: Total income just shy of $1bn
For now, PAGCOR remains both a regulator and operator in the Philippines.
The Philippine Amusement and Gaming Corporation (PAGCOR) has released its Q3 financial report for the nine months ended September 2023.
Total income was ₱56bn ($984.4m), accounting for income from gaming operations, gains and other service and business income as well as other non-operating income.
When broken down, PAGCOR made ₱51.66bn in income from gaming operations, ₱3bn for other service and business incomes, ₱1.25bn for gains and ₱5.7m from other non-operating income.
Expenses were ₱18.9bn, which accounts for personnel services, maintenance and other operating expenses, financial expenses and non-cash expenses.
However, when compared to the same period in the last year, total income increased 32% and income from gaming operations also increased 32%. The rise in income led to an overall rise of 41% in comprehensive income.
Income minus expenses left PAGCOR with a profit of ₱37bn after tax; however, once further deductions were made (net assistance, subsidy, financial assistance, subsidy and contribution) the comprehensive income for the period came to ₱4.86bn.
In the nine months from 1 January to 30 September, cash and cash equivalents increased from ₱25.72bn to ₱33.83bn, up 32% in just nine months.
PAGCOR licenses and regulates all gaming activities across the Philippines while working as an operator that operates a total of 43 casinos via the Casino Filipino brand and affiliated satellites.
PAGCOR recently revealed it would become a purely regulatory body by 2025, despite the Philippines regulator announcing plans for a new online casino back in July.
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