Philippines gaming regulator PAGCOR has reported income from gaming operations of Php22.28 billion (US$439.3 million) in the nine months to 30 September 2021, broadly in line with the same period in 2020. Income for the September quarter alone was Php7.1 billion.
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 (US$3.6 million) was 38.6% higher than the same period in 2021 and more than doubled the Php79.1 million (US$1.6 million) profit reported in 1H21.
According to PAGCOR’s financial statements, the regulator paid Php11.7 billion (US$230.7 million) in gaming taxes and contributions as part of its mandated charter, up from Php7.76 billion (US$154.2 million) in Q2.
Manila’s casinos, already closed for 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).
They were eventually granted permission to reopen at 30% capacity in mid-October under the Philippines’ new COVID-19 alert level system.
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