PAGCOR reported total income of Php25.24bn for the first quarter of 2024, up 42.57% year on year. Gaming operations generated Php22.29bn, while net income after expenses reached Php18.99bn; PAGCOR said Php15.56bn of net income would go to its Contributions to Nation-Building.
The income and planned nation-building contribution show regulators and public stakeholders the scale and destination of PAGCOR’s reported earnings.
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The Philippine Amusement and Gaming Corp (PAGCOR) said it released an initial PHP65.60m (US$1.1mln) in assistance to people affected by typhoons and flooding in Luzon. The aid covers food and non-food supplies for victims in Metro Manila and other parts of the region.
SRI Lankan authorities have blocked 122 online gaming platforms targeting local users and established a gambling regulator, according to reports. Further rules are expected to cover operators in Colombo Port City and elsewhere in the country. The report also said about 50,000 gambling sites had been blocked in the Philippines, with 95% to 97% operating overseas.
PAGCOR chairman and CEO Alejandro H. Tengco said the Governance Commission for Government-Owned or -Controlled Corporations was expected to submit a recommendation on separating PAGCOR’s regulatory and casino-operating functions in August. Tengco said the Office of the President would study the proposal, with an executive order expected by the end of the year; PAGCOR also expects gaming activity to improve in the second half of 2026.
PAGCOR’s fit-and-proper assessments can cover directors, officers, significant shareholders and beneficial owners, according to an analysis by Arden Consult. The firm said investors holding at least 20% of an entity generally fall within scope, while licensed companies must report relevant management or ownership changes within 15 calendar days. The Philippines is due for a further international evaluation in 2027.
PAGCOR remitted PHP5.67 billion in dividends to the Philippine government for fiscal year 2025, the agency said. The payment represented 50% of its 2025 income and ranked fifth among contributions from 50 government-owned and controlled corporations.