The Philippine Amusement and Gaming Corporation (PAGCOR) achieved a historic milestone in 2024, posting a record P112 billion in revenues—a 41% increase from the previous year’s P97 billion. This surge was largely fueled by the rapid growth of the electronic gaming sector.
Net operating income rose 51% to P84.97 billion, while net income more than doubled to P16.76 billion, after accounting for P68.21 billion in nation-building contributions.
Key Revenue Drivers:
- E-Games & E-Bingo: P48.79 billion (50.03%)
- Licensed Casinos: P33.07 billion (33.91%)
- Casino Filipino: P12.67 billion (12.99%)
PAGCOR remitted P46.32 billion to the National Treasury, marking a 33.39% increase from 2023. Additional contributions included P4.87 billion in franchise taxes and P1.09 billion in corporate income taxes.
CEO Alejandro Tengco highlighted digital gaming’s transformative impact, emphasizing its role in PAGCOR’s record-breaking performance.
Looking ahead, PAGCOR aims to privatize self-operated casinos over the next five years, shifting towards a purely regulatory role while expecting to generate P60 billion to P80 billion from the divestment. The agency also anticipates the opening of one integrated resort annually.