Operator News
Philippines – PAGCOR gaming tax up by 43 per cent during 2023 so far
By Phil - 25 September 2023
Philippines gaming regulator PAGCOR has paid 43 per cent more in tax revenue to the government for the first seven months of the year than during the same period in 2022 but that figure still comes in less than it was paying in pre-pandemic tax by six per cent.
Pagcor is required by law to share 50 per cent of its net revenue with the government. Gaming tax for January 1 to July 31 2023 came in at Php18.84bn (US$331m), compared with Php13.12bn (US$231m) for that same time period in 2022 period and Php20.13bn (US$354m) from January to July 2019. The Php2.83bn (US$49.8m) in July alone was 26 per cent higher year-on-year.
PAGCOR GGR increased by 35.6 per cent year-on-year to Php36.21bn (US$637m).
Chairman and CEO Alejandro Tengco said: “Pagcor will certainly ride on the tide of our country’s economic growth. As economic activities reach pre-pandemic levels, we are optimistic that we can sustain the gaming industry’s growth momentum as we fortify our regulatory policies to attract more investors in the Philippines.”
