Asia
PAGCOR Gaming Revenue Rises 11.6% in 2019
The Philippine Amusement and Gaming Corp (PAGCOR) has reported gaming revenue of P75.8 billion for 2019, representing an 11.6% increase from its 2018 figure of P67.85 billion.
“Among the biggest sources of Pagcor’s gaming revenues are the slot machine operations, electronic bingo, table games operations, regulatory fees from the Philippine offshore gaming operations and fees from licensed casinos,” PAGCOR said.
Because of the state-gaming firm’s buoyant performance in 2019, it was able to remit over P56 billion to the government through its mandated contributions and other corporate social responsibility programmes.
PAGCOR’s other notable contributions to the government were its P1.8 billion remittance to the Philippine Sports Commission, Dangerous Drugs Board (P60 million) and the Board of Claims (P118.9 million), an agency under the Department of Justice which grants compensation to victims of unjust imprisonment and victims of violent crimes.
The state-run gaming firm also remitted P123.3 million in cash incentives to national athletes and coaches who won in international sporting events by virtue of Republic Act 10699. Likewise, cities hosting PAGCOR-operated casinos nationwide received host cities’ share, which totaled P445.7 million.