Philippine gaming regulator PAGCOR reported a net profit of PHP4.22 billion ($76 million) for the first quarter of 2025, up 23% year-on-year due to higher gaming revenue and a significant decrease in operating expenses.
The quarter included total revenue of PHP28.1 billion ($504 million), up 11.2% year-on-year, of which PHP25.5 billion ($457 million) came from gaming operations. Of this, 56% was contributed by the fast-growing e-gaming and e-bingo segment, which brought in PHP14.32 billion ($257 million), while licensed casinos contributed PHP8.32 billion ($149 million) or 32.6%, and PAGCOR-operated casinos PHP2.88 billion ($51.6 million) or 11.3%, the regulator explained.
It also pointed to the continued focus on financial discipline, as operating expenses were cut by 15.5% to PHP6.21 billion ($111 million), compared to PHP7.36 billion ($132 million) in the same period last year.
“This solid performance reflects PAGCOR’s commitment to responsible governance and fiscal discipline,” said PAGCOR Chairman and CEO Alejandro H. Tengco. “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.”
PAGCOR’s total contribution to nation-building in the first quarter of 2025 reached PHP18.9 billion ($339 million), up 21.5% from the first quarter of 2024.
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