Pagcor gaming revenues up 11.7% in 2019
MANILA, Philippines – The Philippine Amusement and Gaming Corporation (Pagcor) reported gaming revenues of P75.75 billion in 2019, 11.7% higher than the P67.9 billion in 2018.
On Tuesday, February 4, Pagcor said its biggest sources of revenues were slot machine operations, electronic bingo, table games operations, regulatory fees from Philippine offshore gaming operations, and fees from licensed casinos. (READ: China wants Philippines to ban online gambling)
In 2018, Pagcor's total revenues stood at P104.1 billion, but the agency clarified that P32.7 billion of it came from its sale of land to a subsidiary of Bloomberry Resorts.
Pagcor was able to remit over P56 billion to the government because of strong earnings last year.
The lion's share of the remittance or P35.9 billion went to the National Treasury.
It was also able to contribute P1.8 billion to the Philippine Sports Commission, with most of the money used for the hosting of the 2019 Southeast Asian Games.
Pagcor also remitted P123.3 million in cash incentives for national athletes and coaches who won in international sporting events.
The Dangerous Drugs Board (P60 million) and the Board of Claims (P118.9 million) also raked in cash from Pagcor. – Rappler.com