The improved Q1 financial performance of Philippines gaming regulator PAGCOR has also allowed it to increase its contribution to nation-building, the agency said Thursday.
Days after revealing that net revenues had reached Php17.7 billion (US$317 million) in the March 2023 quarter, of which Php16.9 billion (US$303 million) came from gaming operations, PAGCOR revealed that it has infused Php10.98 billion (US$197 million) into the economy for its mandated nation-building projects, representing a 50.6% improvement over the same period in 2022.
“The local gaming industry picked up from where it left off in 2022, and this is good news for our mandated beneficiaries as it means bigger remittances from us this year,” said Chairman and CEO, Alejandro Tengco.
