The Philippines' casino regulator, the Philippine Amusement and Gaming Corporation (Pagcor), reported full-year 2023 revenue of nearly 79.38 billion pesos ($1.41 billion). According to statistics, this represents a 34.6% increase from the previous year’s P58.96 billion. Data released on Tuesday.
Total revenue from the gaming business increased 32.8% year-on-year to P73.11 billion, the data showed.
Pagcor's total expenses in 2023 increased 18.0% year-on-year to nearly P26.65 billion. Philippine Amusement and Gaming Corp. also had to deduct nearly Php45.63 billion in subsidies, financial aid and other contributions to the government during this period. This figure is 44.2% higher than the P31.65 billion in deductions for such matters in 2022.
The gaming regulator and operator posted 2023 net profit of nearly 6.82 billion pesos, a 53.3% increase from 2022’s net profit of just under 4.45 billion pesos.
Pagcor is the operator of publicly owned casinos and the regulator for the entire casino industry in the Philippines, including privately developed venues. Its own casino brand is called Casino Philippines.
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