Industry News

PAGCOR Gaming Income Improves to $439M in Q3 2021

Published

3 years ago

October 29, 2021

Reading Time: < 1 minute

The Philippines Amusement and Gaming Corp (PAGCOR) has reported income from gaming operations of Php22.28 billion ($439.3 million) in the three months to 30 September 2021, broadly in line with the same period in 2020 but 51% higher than the June quarter.

The improved sequential results came despite ongoing COVID-19 restrictions preventing casinos across parts of the country, particularly in Metro Manila, from operating at full capacity.

Net income of Php183.9 million ($3.6 million) was 38.6% higher than Q3 2020 and more than double the Php79.1 million ($1.6 million) profit reported in Q2 2021.

According to PAGCOR’s Q2 2021 financial statements, the regulator paid Php11.7 billion ($230.7 million) in gaming taxes and contributions as part of its mandated charter in the September quarter, up from Php7.76 billion ($154.2 million) in Q2.

Manila’s casinos, already closed for a large period in 2020, were shut down again from late March until late April this year following another outbreak of COVID-19, then again in early August when the National Capital Region, including Metro Manila, was placed under the strictest Enhanced Community Quarantine (ECQ).

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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.