PAGCOR Gaming Income Improves to $439M in Q3 2021

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).