The Philippine Amusement and Gaming Corporation (PAGCOR) unveiled that the revenues of Q3 have reached PHP79.43 billion, up 42% from the PHP55.95 billion revenues year-on-year. Alejandro Tengco, Chairman and Chief Executive Officer of PAGCOR commented: The Electronic Games sector alone contributed Php28.22 billion or 35.52% to the gaming revenue pie, followed by the licensed casino
Alejandro Tengco, Chairman and Chief Govt Officer of PAGCOR commented:
The Electronic Video games sector alone contributed Php28.22 billion or 35.52% to the gaming earnings pie, adopted by the licensed casino sector which chipped in 30.84% or Php24.50 billion from licensee fees. Our third quarter performance is a sturdy indication that despite the President’s decision to ban offshore gaming operations in the country, we are mute heading in the staunch route to fulfill our Php100 billion earnings target by yearend.
Web earnings for the first nine months, in the intervening time, used to be at Php9.63 billion, nearly double last year’s Php4.85 billion.
Of PAGCOR’s Php79.43 billion revenues, Php69.88 billion came from gaming operations and license fees; Php6.43 billion from other related companies and products; and other earnings at Php3.11 billion.
Mr. Tengco acknowledged bigger revenues skill PAGCOR’s contributions to nation-building also elevated by 40.39% to Php48.88 billion in comparison with last year’s Php34.82 billion:
From our total contributions to nation-building, Php33.19 billion went to the National Treasury as 50% government half. Half of of the remittances to the nationwide coffers — or Php16.59 billion – has been earmarked for PhilHealth to fund the Universal Healthcare Regulation.
Source: TheGamblest
