PAGCOR Revenue Up 11.2% in Q1 2025: Online Gambling Leads, Profit Grows by 23%
The Philippine regulator PAGCOR has published its financial report for Q1, highlighting a 11.2% revenue increase compared to the same period in 2024 and a 23% rise in net income.
PAGCOR Financial Results for Q1 2025
Total revenue reached $504.5 million, which is 11.2% higher than in Q1 2024. The main source of income was gaming operations, generating Php25.52 billion or $460.3 million (at an exchange rate of 1 USD ≈ 55.44 PHP).
Net income amounted to $75.3 million (Php4.22 billion), representing a 23% increase compared to $55.8 million a year earlier.
Revenue Breakdown by Segment
| Segment | Revenue (USD) | Share of Total GGR |
|---|---|---|
| Online Gambling and E-Bingo | $252.3 million | 56% |
| Licensed Casinos | $147.5 million | 32.6% |
| PAGCOR-Operated Casinos | $52.6 million | 11.31% |
Expense Reduction and Efficiency Gains
PAGCOR continues to optimize its operations, cutting operating expenses by 15.5% — from $130.6 million to $111.2 million.
According to PAGCOR Chairman and CEO Alejandro H. Tengco, these results were made possible by improved operational efficiency and the implementation of strategic reforms.
He noted that the progress achieved will further increase the agency’s contribution to national development.
Increased Contributions to Social Projects
In Q1 2025, PAGCOR’s contributions to national projects and infrastructure rose by 21.5%, reaching $335.9 million (Php18.9 billion).
This is significantly higher than the Php15.56 billion recorded in the same period in 2024.
- A dialysis center was opened in Pampanga with $1.62 million in funding.
- The 49th emergency and medical aid center was opened.
Management Quote
“This steady growth reflects PAGCOR’s commitment to responsible governance and financial discipline. With the results achieved, we will be able to make an even greater contribution to national development,” said Alejandro H. Tengco.
Key Figures and Summary
- Revenue: $504.5 million (+11.2% YoY)
- Net income: $75.3 million (+23%)
- Operating expenses: $111.2 million (−15.5%)
- CNB contributions: $335.9 million (+21.5%)
Thus, PAGCOR demonstrates stable growth in both revenue and its contribution to the development of the Philippines, with online gambling and E-Bingo emerging as key drivers of the country’s gaming sector economy.