{"id":5999,"date":"2023-10-31T00:44:11","date_gmt":"2023-10-31T00:44:11","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/10\/31\/pagcor-reports-nearly-1-billion-revenue-in-first-three-quarters\/"},"modified":"2023-10-31T00:44:11","modified_gmt":"2023-10-31T00:44:11","slug":"pagcor-reports-nearly-1-billion-revenue-in-first-three-quarters","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/10\/31\/pagcor-reports-nearly-1-billion-revenue-in-first-three-quarters\/","title":{"rendered":"Pagcor Reports Nearly $1 Billion Revenue in First Three Quarters"},"content":{"rendered":"<div>\n<p>The Philippine Amusement and Gaming Corporation (Pagcor) has announced its financial results, recording a revenue of PHP55.95 billion (around $984.4 million) in the first nine months of its financial year, ending 30 September 2023. The bulk of this income, PHP51.66 billion, stemmed from its gaming and operations. Other revenue sources included PHP3.04 billion from different services and business activities, plus PHP1.25 billion labeled as \u201cgains\u201d revenue. An additional PHP5.7 million was earned from non-operating sources.<\/p>\n<p>In terms of expenses, Pagcor\u2019s total operating costs during this period amounted to PHP18.85 billion. Personnel services, constituting the largest expense, came in at PHP10.96 billion, while maintenance and other operating expenses reached PHP5.71 billion. After accounting for these costs, Pagcor\u2019s pre-tax profits stood at PHP37.10 billion. With tax payments of PHP10.6 million, the profit after tax was nearly unchanged at PHP37.09 billion.<\/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\">\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 py-10\">\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 of 350% + 150 Free Spins\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>Moreover, the organization contributed PHP32.23 billion in various forms, resulting in a comprehensive net profit of PHP4.86 billion.<\/p>\n<p>Amid these financial details, Pagcor is also undergoing a transformation. CEO Alejandro Tengco recently indicated a shift in Pagcor\u2019s focus, moving from gambling operations towards becoming a \u201c<a href=\"https:\/\/igaming.org\/casino-news\/pagcors-all-set-to-transform-into-a-pure-gaming-regulatory\/\">purely regulatory<\/a>\u201d body. This aims to level the competitive field and foster growth among other operators. Pagcor is currently responsible for the Casino Filipino brand, with eight casinos across the Philippines.<\/p>\n<p>Adding to this change, Tengco <a href=\"https:\/\/igaming.org\/casino-news\/pagcor-ventures-into-igaming-sector-with-launch-of-casinofilipino-com\/\">announced<\/a> in July the plans to launch an online gambling platform, Casinofilipino.com, set to debut in the first quarter of 2024. These developments follow Tengco\u2019s earlier statements in 2023 about divesting the corporation\u2019s casino operations to a private entity. He also mentioned expanding Pagcor\u2019s role in national development programs.<\/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\">\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 py-10\">\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 of 350% + 150 Free Spins\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>The move towards privatization, as Tengco explained, is to streamline operations and avoid the challenges of managing dual roles. By focusing solely on regulatory functions, Pagcor aims to enhance the industry\u2019s growth and maintain a fair playing environment.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/pagcor-reports-nearly-1-billion-revenue-in-first-three-quarters\/\">Pagcor Reports Nearly $1 Billion Revenue in First Three Quarters<\/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) has announced its financial results, recording a revenue of PHP55.95 billion (around $984.4 million) in the first nine months of its financial year, ending 30 September 2023. The bulk of this income, PHP51.66 billion, stemmed from its gaming and operations. Other revenue sources included PHP3.04 billion from different [&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-5999","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\/5999","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=5999"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5999\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=5999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=5999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=5999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}