

In a recent announcement, the Philippine Amusement and Gaming Corp (Pagcor), the country’s casino regulator, revealed a significant surge in its total income for the entire year of 2023. According to Tuesday’s released data, the total income reached almost PHP79.38 billion, marking a substantial 34.6 percent increase compared to the previous year’s PHP58.96 billion.
The data further disclosed a 32.8 percent year-on-year growth in gross income from gaming operations, totaling PHP73.11 billion. However, Pagcor’s total expenses for 2023 also experienced an 18.0 percent increase from the previous year, reaching nearly PHP26.65 billion. During this period, Pagcor had to subtract just under PHP45.63 billion for subsidies, financial assistance, and other contributions to the government—an amount 44.2 percent higher than the PHP31.65 billion deducted in 2022 for similar purposes.
For the fiscal year 2023, the gaming regulator, which also operates publicly-owned casinos, reported a net income of almost PHP6.82 billion. This reflects a substantial 53.3 percent increase compared to the just under PHP4.45 billion recorded in 2022. Pagcor holds a dual role as both the operator of publicly-owned casinos and the regulatory authority overseeing the entire casino industry in the Philippines, encompassing privately-developed venues.
All signs points to continued growth in the gaming industry in the Philippines. We hope that the momentum this continues this year as well. Revenue growth is beneficial to all parties involved and will give a better gaming experience to everyone.