In 2024, the Philippine Amusement and Gaming Corporation (PAGCOR) generated Php112 billion, setting a new revenue milestone. Compared to the Php79 billion reported in 2023, this is a noteworthy 41% increase. This accomplishment was made possible in large part by the Electronic Games industry’s impressive success.
PAGCOR’s net operating income climbed to Php84.97 billion, a 51% gain from the previous year’s Php56.38 billion. The agency’s net income was Php16.77 billion after funding nation-building projects with Php68.21 billion.
Chairman and CEO Alejandro H. Tengco expressed pride in this historic accomplishment. “We are proud to announce that our 2024 financial performance is the best so far in the history of PAGCOR, and we thank our employees and stakeholders for making such achievement possible,” he said.
Gaming operations and license fees remained the dominant revenue sources, contributing Php97.52 billion. Other streams, including business income and service fees, added Php14.18 billion.
Tengco credited the E-Games and E-Bingo sectors for the agency’s financial success. These segments generated Php48.79 billion, accounting for 50.03% of total gaming revenues. “The continuous growth of the E-Games sector is the key driver of PAGCOR’s record-breaking performance,” he noted. “It reflects the increasing popularity of digital gaming platforms and the transformative impact of technology on the industry.”
While PAGCOR’s own Casino Filipino venues provided Php12.67 billion (12.99%), licensed casinos contributed Php33.07 billion (33.91%). The Philippine Offshore Gaming Operations (POGOs) sector generated Php2.99 billion (3.07%) to gaming revenues even after they were shut down in December 2024.
Increased Contributions to Nation-Building
With higher earnings, PAGCOR significantly boosted its contributions to national programs. It allocated Php68.20 billion to various initiatives, a 37.61% increase from 2023. The National Treasury received Php46.32 billion, marking a 33.39% rise from Php34.72 billion in the previous year.
The agency also paid Php4.87 billion in franchise taxes and Php1.09 billion in corporate income taxes. The Philippine Sports Commission received Php2.31 billion, while Php91.88 million was given as incentives to athletes and coaches who participated in the 2024 Paris Olympic and Paralympic Games.
Additionally, PAGCOR allocated Php12.37 billion for socio-civic programs under the Office of the President. Other beneficiaries included Casino Filipino host cities (Php698.60 million), the Board of Claims under the Department of Justice (Php178.80 million), and the Renewable Energy Trust Fund (Php248.01 million).
PAGCOR had previously surpassed the Php100 billion mark only in 2018, reaching Php104.12 billion, though that total included a one-time property sale worth Php32.71 billion. This time, the record-breaking revenue was achieved solely through gaming and related operations, reinforcing the agency’s strong financial trajectory.
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