The repeated epidemics in the Philippines have greatly affected the operation of casinos in the capital Manila, and they are still operating on a limited basis. According to foreign media reports, PAGCOR, the local gaming operations and regulatory agency, announced that gaming revenue recorded 14.78 billion pesos in the first half of this year, a decrease of 19.9% year-on-year.
The report continued that PAGCOR’s total expenditure in the first half of this year was 7.99 billion pesos, a decrease of 29.4% year-on-year, and its net income during the period was 79.1 million pesos, compared with a net loss of nearly 1.6 billion pesos last year; The regulatory fee charged was about P6.32 billion, a decrease from P6.8 billion in 2020.
In addition, according to the law, PAGCOR is required to turn over 7.76 billion pesos from gaming revenue to the state treasury, of which about 6.99 billion pesos go directly to the Ministry of Finance.