{"id":5273,"date":"2023-07-21T06:21:34","date_gmt":"2023-07-21T06:21:34","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/07\/21\/pagcor-reports-impressive-first-half-2023-profits-fueled-by-gaming-income\/"},"modified":"2023-07-21T06:21:34","modified_gmt":"2023-07-21T06:21:34","slug":"pagcor-reports-impressive-first-half-2023-profits-fueled-by-gaming-income","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/07\/21\/pagcor-reports-impressive-first-half-2023-profits-fueled-by-gaming-income\/","title":{"rendered":"PAGCOR Reports Impressive First Half 2023 Profits Fueled by Gaming Income"},"content":{"rendered":"<div>\n<p>The Philippine Amusement and Gaming Corporation (PAGCOR), the country\u2019s prestigious gaming regulator, recently revealed a stunning increase in overall profit during the first half of 2023, totaling to Php36.21 billion (US$663 million). This incredible 35.6% gain was principally driven by a significant 48.7% increase in gross gaming income, which reached Php136.37 billion (US$2.50 billion) within the same time period.<\/p>\n<p>Despite confronting pandemic-related hurdles, PAGCOR\u2019s second-quarter revenue of Php18.5 billion (US$339 million) and first-quarter income of Php17.7 billion (US$324 million) demonstrated the company\u2019s outstanding growth trajectory. However, the half-year profit continues to trail behind pre-pandemic levels, coming in 6.7% lower than the pre-pandemic output of Php38.8 billion (US$710 million) in the first half of 2019.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins in Aztec Magic Deluxe\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Alejandro Tengco, President and CEO of <strong><a href=\"https:\/\/igaming.org\/casino-news\/pagcor-reports-record-income-in-2023-amidst-pandemic-recovery\/\" target=\"_blank\" rel=\"noopener\">PAGCOR<\/a><\/strong>, remains hopeful about the future, riding the wave of the country\u2019s economic progress. Tengco believes that the gaming industry\u2019s growth momentum will be continued as economic activity gradually returns to pre-pandemic levels. He also emphasized the corporation\u2019s commitment to strengthening regulatory rules in order to attract more investors to the Philippines.<\/p>\n<p>The majority of PAGCOR\u2019s revenue during the January-June period came from licensee and gaming regulatory fees, totaling Php34.12 billion (US$625 million). This figure reflected a strong 38.0% year-on-year rise, which was mostly owing to a huge increase in gross gaming revenue (GGR).<\/p>\n<p>PAGCOR\u2019s outstanding financial performance has a direct impact on nation-building activities. During the first half of 2023, the firm contributed Php22.62 billion (US$414 million), with Php16.20 billion (US$297 million) going directly to the National Treasury as 50% of the government\u2019s contribution. Furthermore, the Philippine Health Insurance Corporation was given Php8 billion (US$146 million) to support Universal Healthcare coverage.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus &#8211; 350% bonus on your first deposit up to 5BTC\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/mirax.partners\/a5279d0cf\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>PAGCOR was instrumental in funding different government socio-civic activities, committing Php3.61 billion (US$66 million) to these initiatives. In addition, Php1.70 billion (US$31 million) was paid to the Bureau of Internal Revenue as a 5% franchise tax, and Php19.92 billion (US$365 million) was paid to the Department of Justice\u2019s Board of Claims. The Philippine Sports Commission (PSC) got Php810.47 million (US$14.9 million), while national athletes and coaches who achieved success in international tournaments received Php17.97 million (US$329,000) in Sports Incentives and Benefits. Furthermore, cities that house PAGCOR\u2019s Casino Filipino operations earned Php225.86 million (US$4.1 million).<\/p>\n<p>Alejandro Tengco, CEO of PAGCOR, expressed his delight with the corporation\u2019s present achievements and stated that it has already attained roughly Php136.37 billion (US$2.5 billion) in Gross Gaming Revenue (GGR) for the first semester. PAGCOR is optimistic of meeting or exceeding its revenue projections, contributing to the nation\u2019s wealth and progress, thanks to the favorable business environment and constant dedication to growth.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/pagcor-reports-impressive-first-half-2023-profits-fueled-by-gaming-income\/\">PAGCOR Reports Impressive First Half 2023 Profits Fueled by Gaming Income<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Philippine Amusement and Gaming Corporation (PAGCOR), the country\u2019s prestigious gaming regulator, recently revealed a stunning increase in overall profit during the first half of 2023, totaling to Php36.21 billion (US$663 million). This incredible 35.6% gain was principally driven by a significant 48.7% increase in gross gaming income, which reached Php136.37 billion (US$2.50 billion) within [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-5273","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=5273"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5273\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=5273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=5273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=5273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}