The local gambling industry is expected to rake in some P245 billion in revenues this year as the economy continues to reopen, allowing greater operational capacity of the sector.
The Bureau of Internal Revenue is opposing the proposal of the Philippine Amusement and Gaming Corp. to realign the five percent franchise tax as lawmakers move to increase the share of local governments hosting the latter’s operations.
State-run Philippine Amusement and Gaming Corp. is expected to still retain 75 percent of its income even amid plans to privatize its operations and limit its role to being a regulator.
Revenues of the Philippine Amusement and Gaming Corp. (Pagcor) soared by 66 percent last year, driven by the opening of country’s borders to local and foreign tourists following the pandemic.
In a statement, Alejandro Tengco, Pagcor chairman and chief executive officer, said the gaming regulat
THE Philippine Amusement and Gaming Corporation (PAGCOR) posted another record-breaking feat after its total income for 2022 reached P58.96 billion, a 66.16-percent increase compared to its P35.48 billion total income in 2021. The biggest contributor to PAGCOR’s revenue achievement was its income from gaming operations, which reached P55.05 billion. This…