The net income of the Philippine Amusement and Gaming Corp. (Pagcor) surged by 49 percent to ?14.32 billion in the first three quarters of the year.
The gaming regulator said its revenues from January to September had amounted to P84.09 billion, marking a 5.87-percent year-on-year increase.
Similar to last quarter, the bulk of the top line came from gaming operations, which accounted for P75.93 billion, while P8.16 billion came from other related services and income.
According to Pagcor chair and CEO Alejandro Tengco, the surge in net income was primarily due to modernization efforts.
‘Our financial performance is a clear reflection of Pagcor’s renewed focus on governance, digital transformation, as well as sustainable and responsible gaming,’ Tengco said.
Data from Pagcor also show that its total contributions to nation-building reached P54.26 billion, an 11-percent increase from the P48.88 billion in the same period last year.
The gambling regulator funded P11 billion worth of socio-civic projects, and paid P3.79 billion and P609.87 million in franchise taxes and corporate income taxes, respectively.