Asia
PAGCOR POSTS 68.11% REVENUE INCREASE IN FIRST HALF OF 2022; CONTRIBUTIONS TO NATION-BUILDING UP BY 62.69%
![](https://europeangaming.eu/portal/wp-content/uploads/2022/08/PAGCORs-comparative-revenues-for-1st-half-of-2021-and-2022.jpg)
After two years into the pandemic, the Philippine Amusement and Gaming Corporation (PAGCOR) has shown signs of recovery with its 68.11% year-on-year revenue increase for the first half of 2022.
The state-run gaming firm posted P26.70 billion in total income from January to June, a significant leap from the P15.88 billion revenues during the same period last year. Said amount was also 9.39% higher than the agency’s revenue target of P24.40 billion for the first six months of this year.
Meanwhile, PAGCOR’s net income (after tax) also grew by 2,630.51% or P2.15 billion compared to the P79.07 million net income in the first semester of 2021.
The promising gaming outlook in the country was fueled by the easing of community quarantine and travel restrictions, increased vaccination rate among gaming personnel and guests, and implementation of strict health protocols in all PAGCOR-operated and regulated gaming venues.
Because of improved gaming revenues in the first half of the year, PAGCOR’s contributions to nation-building significantly increased by 62.69% — from P13.05 billion in the first six months of 2021 to P21.23 billion this year.
Of the P21.23 billion contributions to nation-building, the lion’s share of P11.71 billion went to the National Treasury as a 50% government share; P6 billion also went to the national coffers as cash dividends (for the dividend year 2021); while P1.23 billion went to the Bureau of Internal Revenue as a franchise tax.
This year, PAGCOR has also remitted significant contributions to the Philippine Sports Commission (P587.18 million); Dangerous Drugs Board (P30 million); Board of Claims under the Department of Justice (P22.70 million); and National Government Agencies (P52.39 million). Likewise, the agency allocated P1.23 billion to fund the government’s socio-civic programs as well as PAGCOR’s own corporate social responsibility projects.
Earlier this year, outgoing PAGCOR Chairman and CEO Andrea Domingo said that the gaming industry is poised for growth after the country eased movement restrictions and prompted pandemic-affected businesses to re-open.”
Asia
PAGCOR BRAVES FLOODS TO HELP DISASTER-HIT COMMUNITIES
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/PAGCOR-BRAVES-FLOODS-TO-HELP-DISASTER-HIT-COMMUNITIES_20240726_120712_0000.png)
At the height of the downpour and massive flooding in Metro Manila and nearby provinces Wednesday, volunteer teams from the Philippine Amusement and Gaming Corporation (PAGCOR) started bringing relief packs to affected communities.
Classes and government work were suspended on Wednesday and Thursday due to the widespread flooding, but PAGCOR volunteers went into action nevertheless.
“Even at the height of the flooding, and even before the President ordered government agencies to provide assistance to affected communities, PAGCOR employees already went to action to help those in need,” PAGCOR Chairman and CEO Alejandro H. Tengco said.
The PAGCOR chief said that since July 24, the agency has delivered more than 21,000 food and non-food relief packs for thousands of affected families.
“After the heavy rains subsided and it was safe to do so, we started bringing immediate aid to flooded communities in Caloocan City on Wednesday, followed by relief operations in Valenzuela, Malabon and Malolos, Bulacan the next day,” he said.
Mr. Tengco added that PAGCOR was scheduled to distribute relief goods to the cities of Marikina and Navotas on Friday as well as to affected towns in Bulacan like Calumpit and Bulakan which were all submerged in floodwater.
“It has been second nature to PAGCOR to immediately respond to the needs of affected communities in times of disasters,” he said.
“We understand that while it is part of our mandate to contribute to nation-building, it is also our moral obligation to help ease the plight of Filipinos in times when they need help the most,” the PAGCOR chief added.
He said PAGCOR’s relief operations are ongoing, with more employees volunteering to help repack relief goods Saturday and Sunday in the agency’s warehouse in Imus, Cavite to support distribution efforts in the coming days in Bataan, Batangas and Cavite.
Asia
AGTech Wins Lottery Terminal Supply Tenders for Shaanxi, Zhejiang and Jiangsu Provinces
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/4-9.jpg)
Lottery and integrated technology and services company AGTech Holdings Limited (AGTech) has announced that one of its wholly-owned subsidiaries has successfully won procurement tenders to supply lottery terminals to Sports Lottery Administration Centres in Shaanxi province, Zhejiang province and Jiangsu province of the People’s Republic of China.
AGTech already has previous success in the China market, having won a bid in 2018 for supplying its new dual, touchscreen lottery terminals to the Chinese provinces of Guizhou, Shanghai and Hebei.
Even before this, AGTech introduced new instant win games, launched in partnership with Chinese logistics firm SF Holdings across Shenzen, Nanchang, Changsha and Nanjing.
Asia
Philippine President Marcos Announces Ban on POGOs
![](https://europeangaming.eu/portal/wp-content/uploads/2024/07/2-8.jpg)
Philippine President Ferdinand Marcos Jr has banned the establishment of any new Philippine Offshore Gaming Operators (POGOs), also known as Internet Gaming Licensees (IGLs), with immediate effect. Existing POGO operators will have until the end of the year to wind down their operations.
The verdict, not entirely unexpected, was delivered during his State of the Nation Address in Manila on Monday following widespread pressure from a Senate investigation into illegal POGO-linked activities.
“Effective today, all POGOs are banned. I hereby instruct [gaming regulator] PAGCOR to wind down and cease the operations of POGOs by the end of the year,” Marcos said in his SONA.
The decision to shut down POGOs follows a series of recent raids on illegal POGO compounds in Pampanga and Tarlac amid allegations they had been engaging in human trafficking and scam activities.
A full ban, proposed by multiple senators, had also gained the support of the Department of Finance (DOF) and the National Economic and Development Authority.
-
Eastern Europe5 days ago
7777 gaming is now available on WINBET Romania
-
Gambling in the USA5 days ago
Gaming Americas Weekly Roundup – July 15-21
-
Gaming5 days ago
MainStreaming Announces Appointment of Nicola Micali as Chief Customer Officer
-
eSports5 days ago
INSPIRED LAUNCHES RE-PLAY ESPORTS™ FEATURING CS:GO IN PARTNERSHIP WITH KAIZEN GAMING
-
Industry News5 days ago
Safer Gambling Tools Use Hits Record High in 2023 – New Report from EGBA
-
Australia5 days ago
Australian eSports Star Joins Team Liquid
-
eSports5 days ago
NODWIN(R) Gaming ropes in Android as title partner for BGMS Season 3; to be powered by Garnier Men
-
Latest News5 days ago
Spinomenal shines again with Super Wild Fruits release