Pagcor’s six-year US$5.44bn record

The Philippines’ gambling monopoly Pagcor recorded US$5.44bn in revenue over the six years under the control of CEO Andrea Domingo.

Pagcor issued a press release yesterday in which it quotes Domingo as saying: “Pagcor’s effectiveness in regulating gaming resulted in the proper collection of revenues.

“During our six years in office, we were able to record more than PHP300bn, of which PHP234bn went directly to the government and mandated beneficiaries while the remainder went to our social responsibility projects.”

Domingo was speaking at the inauguration of a new evacuation centre in San Fernando that was funded by Pagcor.

In the first three months of this year, Pagcor had net income of PHP624.7m (€10.8m) compared with PHP152.6m (€2.6m) in the comparable period of last year.

Pagcor collects fees from gaming operators that it licenses and also operates some venues itself. Half of its gross revenues are by law passed to the Filipino treasury.