In file photo: Pagcor Chairman and CEO Alejandro Tengco inspects a modern slot machine which was exhibited at the SiGMA Asia Summit 2023 in Pasay City.THE Philippine Amusement and Gaming Corp.’s (Pagcor) revenues would return to prepandemic level of P80 billion by next year on the back of the country’s economic growth and rising gaming demand, its chairman said.
About P71.307 billion of Pagcor’s projected total revenues this year would come from its gaming operations, according to the presentation. Tengco explained that historically the second half accounts for the bulk of Pagcor’s income, with the fourth quarter having the highest gaming demand. Pagcor’s 2024 projected total income is at P80.283 billion, about 6.34 percent higher than this year’s estimated full-year gross revenues.
At present, Pagcor is remitting about 50 percent of its revenues (net of the 5 percent franchise tax) to the Bureau of the Treasury. “If we are looking at a contribution of Pagcor to the national treasury between P36 billion and P40 billion, and if we have the correct interpretation, then our contribution to the Maharlika fund would be anywhere between P3.6 billion to P4 billion,” he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
BusinessMirror » / 🏆 19. in PH Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PAGCOR: Over P2B worth of unpaid dues of shuttered POGO licensee can't be collected anymoreThe Philippine Amusement and Gaming Corporation (PAGCOR) won’t be able to collect the over P2.2 billion receivables from Philippine Offshore Gaming Operations (POGO) firm that already closed shop, PAGCOR chief Alejandro Tengco said Monday.
Source: gmanews - 🏆 11. / 68 Read more »
Pagcor must fund projects addressing social effects of gambling, says solonPart of the revenue generated by the Pagcor must be used for projects that address social problems and issues linked to gambling, according to Ako Bicol party-list Rep. Elizaldy Co. | GabrielLaluINQ
Source: inquirerdotnet - 🏆 3. / 86 Read more »
PAGCOR seeks P1B refund from ex-POGO auditor after contract terminationPAGCOR is seeking a P1-billion refund from Global ComRCI, the former third party auditor hired to audit Philippine Offshore Gaming Operators (POGO) under a P5.8-billion contract.
Source: gmanews - 🏆 11. / 68 Read more »
COA’s role as gaming auditor is only a stop-gap measure, says PagcorMANILA, Philippines — Having Commission on Audit (COA) fill in the role of a third-party auditor for Philippine offshore gaming operators (Pogo) is only a stop-gap measure. This
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Pagcor eyes up to P4-B contribution to Maharlika fundIf the Philippine Amusement and Gaming Corporation's (Pagcor) interpretation of the Maharlika Investment Fund (MIF) Law is spot on, then the agency could end up contributing between P3.6 billion and P4 billion to the sovereign wealth fund.
Source: manilabulletin - 🏆 25. / 51 Read more »
Pagcor chief sa kontrobersyal na ₱3M logo: ‘Napakamura na po ‘yun’Iginiit ni Philippine Amusement and Gaming Corporation (Pagcor) Chairman at CEO Alejandro Tengco sa mga kongresista nitong Lunes, Agosto 14,
Source: manilabulletin - 🏆 25. / 51 Read more »