Net income nearly doubled to P9.63 billion from P4.85 billion.
Gaming revenue was primarily driven by the electronic games sector, which generated P28.22 billion, or 36 percent of the total, followed by licensed casinos contributing P24.5 billion, or 31 percent.
Of the total revenue, P69.88 billion came from gaming and license fees, while other services and income sources added P6.43 billion and P3.11 billion, respectively.
Management’s view
“Our third quarter performance is a strong indication that in spite of the President’s decision to ban offshore gaming operations in the country, we are still on track to meet our P100 billion revenue target by yearend,” Pagcor chair and CEO Alejandro Tengco said in a statement on Tuesday.
“From our total contributions to nation-building, P33.19 billion went to the National Treasury as 50 percent government share,” he added.
Government contributions
Pagcor’s contributions to government programs increased by 40 percent to P48.88 billion. This included P3.49 billion in franchise taxes, P421.35 million in corporate income taxes, P1.65 billion for the Philippine Sports Commission, and P90.68 million in athlete incentives.
It also allocated P9.26 billion for socio-civic projects under the Office of the President. Additional recipients were Casino Filipino host cities (P525.95 million), the Department of Justice’s Board of Claims (P99.08 million for wrongful imprisonment compensation), and the Renewable Energy Trust Fund (P140.2 million).
