by Mary Grace Padin (The Philippine Star), 29 Oct 2020
MANILA, Philippines — Earnings of state-run Philippine Amusement and Gaming Corp. (Pagcor) plummeted in the first nine months as its income from gaming operations suffered following the temporary suspension of casino operations due to the pandemic.
According to Pagcor, its net income declined by more than 97 percent to P132.67 million from January to September compared to last year’s P4.97 billion.
Its income from gaming operations likewise plunged by almost 60 percent to P22.33 billion from P55.77 billion in 2019.
The sharp decline in Pagcor’s revenues was attributed to the temporary suspension of casinos and offshore gaming operations in the country to curb the spread of the virus.
They were eventually permitted to resume business, but with limitations in the operational capacity.
Despite the decline, Pagcor’s profit saw a recovery coming from a net loss of P1.6 billion in the first half.
According to Pagcor, income from licensed casinos during the nine-month period amounted to P8.44 billion, 60 percent lower than the P21.11 billion last year. Income collected from offshore gaming operators likewise declined by 6.14 percent to P3.76 billion.
Pagcor said it remitted P11.72 billion of its revenues to the government in the form of gaming taxes and contributions.
In particular, P1.12 billion was paid as franchise tax. A total of P45 million also went to the Dangerous Drugs Board.
Some P10.56 billion also went to the National Treasury as dividends, pursuant to the Government Owned and Controlled Corporations Dividend Law. The law provides that state corporations are mandated to remit 50 percent of their gross income to the national government.
Pagcor’s total expenses reached P15.91 billion, 35 percent lower than last year’s P24.38 billion.
About P9.93 billion of the amount came in the form of operating expenses, while spending for corporate social responsibility projects reached P5.45 billion.
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
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July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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