PAGCOR revenues reach record-high P112-B in 2024

The Philippine Amusement and Gaming Corporation (PAGCOR) reported a record-high revenue of P112 billion in 2024, a 41 percent increase from P79 billion in the previous year, driven by strong performance in the electronic gaming sector.

Net operating income rose by 51 percent to P84.97 billion from P56.38 billion in 2023, while net income after contributions to nation-building reached P16.77 billion, more than doubling the P6.81 billion recorded the previous year.

PAGCOR Chairman and CEO Alejandro Tengco attributed the growth to the e-games and e-bingo sectors, which contributed P48.79 billion or 50.03 percent of total gaming revenues. Licensed casinos generated P33.07 billion (33.91 percent), while PAGCOR-operated Casino Filipino venues brought in P12.67 billion (12.99 percent). Despite the cessation of Philippine Offshore Gaming Operations (POGOs) in December 2024, the sector still contributed P2.99 billion (3.07 percent) to revenues.

Total contributions to nation-building increased by 37.61 percent to P68.20 billion. This included P46.32 billion remitted to the National Treasury, P4.87 billion in franchise taxes, and P1.09 billion in corporate income taxes.

Other allocations included P2.31 billion to the Philippine Sports Commission, P91.88 million in incentives for athletes and coaches in international competitions, and P12.37 billion for socio-civic programs under the Office of the President. Additional funds were distributed to host cities of Casino Filipino branches (P698.60 million), the Board of Claims under the Department of Justice (P178.80 million), and the Renewable Energy Trust Fund (P248.01 million).

PAGCOR previously surpassed the P100 billion revenue mark in 2018, recording P104.12 billion, which included a one-time property sale worth P32.71 billion.