Asia
PAGCOR Reports US$48 Million Loss in Q2 2020

Philippine gaming regulator PAGCOR has reported a loss of US$32.5 million in the six months to 30 June 2020.
While PAGCOR did not break down its 1H20 financials by quarter, it had previously reported a net income of US$15.8 million for the first three months of 2020, suggesting a loss of US$48.4 million during Q2.
PAGCOR reported income from gaming operations of Php18.44 billion in the first six months of this year, down 49.6% fromUS$714.5 million in the same period in 2019. US$350.4 million of that income was generated in Q1 2020, meaning income from gaming operations totaled just US$24.8 million in Q2 2020.
The regulator said its income from licensed casinos totaled US$138.4 million – none of which was generated in the second quarter, while income from POGO operations was US$59.4 million of which US$22.6 million was second-quarter income.
Gaming operations across the Philippines were shut down on March 15 after President Rodrigo Duterte implemented community quarantine across the main island of Luzon. While some areas have since been allowed to reopen, the national capital region comprising metro Manila remains under strict general community quarantine with casinos and other gaming venues having now been closed for more than four months.
-
Asia7 days ago
National Sports Day: Why it’s time to see esports as a key pillar of India’s new-age sporting identity
-
Baltics7 days ago
All Gambling Halls in Riga Threatened with Closure – Industry Raises Alarm
-
Latest News7 days ago
Favbet × Spinner: An Exclusive Live Studio That Has Already Gained Recognition in Ukraine
-
Latest News7 days ago
Cubeia announces Cubeia Platinum Freeroll at SiGMA Poker Tour Malta
-
Latest News7 days ago
After $546M H1, Gurhan Kiziloz Bets on Brazil With Nexus HQ While Giants Look West
-
Latest News7 days ago
Play’n GO shortlisted in two categories at the prestigious Corporate Star Awards
-
Latest News7 days ago
ENHANCING COMMUNITY SPIRIT: SKY BET EFL BUILDING FOUNDATIONS FUND PROVIDES FIRST LOOK AT SOUTHLANDS HUB IN MIDDLESBROUGH
-
Latest News7 days ago
Embrace Your Inner Maverick in Hacker’s Haven