Philippines gaming regulator PAGCOR has announced total income from gaming operations of Php51.66 billion (US$906 million) for the nine months through 30 September 2023, up 31.9% year-on-year and tracking slightly ahead of the government’s budgeted target for the period.
Recent industry growth does appear to have slowed during the September quarter however, with 3Q income of Php15.45 billion (US$271 million) falling by 16.5% compared with 2Q23 when income reached a post-pandemic record of Php18.50 billion (US$325 million). The Q3 result was also down on the Php17.70 billion (US$310 million) in income PAGCOR declared in Q1, according to IAG’s calculations.
After paying taxes and mandated contributions, the agency revealed that its total comprehensive income for the first nine months of the year sits at Php4.86 billion (US$85.3 million), representing a 39.7% improvement over the same period in 2022 and more than 530% of the target.
PAGCOR licenses and regulates all gaming activities across the Philippines and also operates 43 casinos via the Casino Filipino brand and affiliated satellites.
