Philippine gaming regulator PAGCOR has reported net income of Php4.22 billion (US$75.6 million) in 1Q25, up 23% year-on-year due to higher gaming revenues and a significant fall in operating expenses.
The quarter included total revenues of Php28.1 billion (US$504 million), up 11.2% year-on-year, of which Php25.5 billion (US$457 million) came from gaming operations. Of this, 56% was contributed by the rapidly growing E-Games and E-Bingo segment, which generated Php14.32 billion (US$257 million), while licensed casinos contributed Php8.32 billion (US$149 million) or 32.6% and PAGCOR-operated casinos Php2.88 billion (US$51.6 million) or 11.3%, the regulator explained.
It also pointed to a continued focus on financial discipline as operating expenses were slashed by 15.5% to Php6.21 billion (US$111 million), down from Php7.36 billion (US$132 million) in the same period last year.
“This solid performance reflects PAGCOR’s commitment to responsible governance and fiscal discipline,” said PAGCOR Chairman and CEO Alejandro H. Tengco. “The gains we have made in the first quarter will allow us to contribute even more to nation-building for the rest of the year.”
PAGCOR’s total contributions to nation-building during 1Q25 reached Php18.9 billion (US$339 million), up 21.5% from the first quarter of 2024.
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