Asia

PAGCOR Gaming Revenue Rises 11.6% in 2019

Published

5 years ago

February 7, 2020

Niji Narayan

PAGCOR Gaming Revenue Rises 11.6% in 2019

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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.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.