CASINO

Pagcor’s revenue in first 3Q’s of 2012 reaches Php31.16 billion

TAGs: Business, Casino News, PAGCOR

pagcor philippines congress gamingThe Philippine Amusement and Gaming Corporation continued its torrid revenue run this year, after raking in Php 4.38 billion in revenue in the first three quarters of 2012 with the gross income hitting Php 31.16 billion through September. For a little perspective on how impressive that gross revenue number is, Pagcor’s total gross revenue last year was “only” at Php 26.78 billion.

In a statement, Pagcor chairman and CEO Cristino Naguiat Jr. attributed the impressive run of the government agency in large part because of revenues posted by Pagcor’s gaming facilities all over the country. As such, the agency’s revenue continues to hit marked improvements from their previous year’s numbers and, according to Naguiat Jr., “has been growing at an average to close to half a billion pesos a month or roughly P1.5 billion every quarter.”

Going by the numbers, Naguiat also pointed out the fact that table games and slot machine operations from Pagcor-run casinos and arcades generated a revenue of Php 21.04 billion as of the end of September. That figure is also significantly higher than what the company earned – around Php 18 billion – at the same time last year.

More than just their casino-generated winnings of Php 14.92 billion, Pagcor also broke the piggy bank on a number of other ventures, including Php 6.12 billion from satellites, arcades, and VIP clubs, as well as Php 9.45 billion from related services and regulatory fees.

For all of Pagcor’s record-setting earnings, its also important to point out that the government agency sends out funds derived from their revenue to a number of other government agencies, including the National Treasury, which received Php 9.99 billion, a number that represents the government’s 50 percent share in revenues. Meanwhile, the Bureau of Internal Revenue received Php 1.05 billion while the President’s Social Fund got Php 1.74 billion. Others getting a slice of the Pagcor revenue pie are the Philippine Sports Commission, which got Php 499 million, the Board of Claims, which got Php 21 million, and Php 367 million to casino host cities for implementation of their community projects.

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