Pagcor profit surged 23% in the first quarter

MANILA, Philippines — The Philippine Amusement and Gaming Corp. (Pagcor) saw its first-quarter net income this year surge by 23 percent to P4.2 billion. It was P3.43 billion in the same period last year

Pagcor chair and CEO Alejandro H. Tengco said in a statement this was due to reforms and improved operational efficiency.

“This solid performance reflects PAGCOR’s commitment to responsible governance and fiscal discipline,” Tengco said. 

“The gains we have made in the first quarter will allow us to contribute even more to nation-building for the rest of the year,” he added.

READ: Pagcor bets on hefty growth in 2025 PH gaming revenue

Tengco said further they will continue to innovate and strengthen regulatory oversight. He said this is to ensure that revenues directly benefit Filipinos through its nation-building and corporate social responsibility programs.

Data from Pagcor show that its contributions to such efforts reached P18.9 billion from January to March. This meant a surge of 21.5 percent year-on-year from P15.56 billion.

Pagcor is both gaming regulator and operator

Meanwhile, revenues jumped 11.2 percent to P28.07 billion from P25.24 billion.

The bulk of the top line came from gaming operations, which turned in P25.52 billion.

Of that amount, 56 percent came or P14.32 billion came from the electronic games and e-Bingo segment.

Revenues from licensed casinos accounted for 32.6 percent or P8.32 billion. Revenues from Pagcor-operated casinos amounted to P2.88 billion or 11.31 percent of total.

On the other hand, Pagcor saw a 15.54-percent drop in operating expenses, which settled at P6.21 billion. Pagcor spent P7.36 billion in the same period last year.

Last March, Tengco said the state firm will continue to closely regulate electronic gaming while ensuring strict oversight to check illegal operators.

“As offshore gaming exits, Pagcor recognizes that the future of Philippine gaming will continue to become more technology-driven,” he said. 

(2025/05/01-18:22)