Games News
Pagcor Doubled Net Income in Q1 on 50% Revenue Growth
The Philippine Amusement and Gaming Corporation, PAGCOR, the Philippine gaming regulator, reported that its net income for the first quarter of 2023 amounted to approximately PHP1.34 billion (US$24.0 million). Compared with the net income of about PHP624.7 million generated over the same period last year, the first quarter of 2023 doubled the net income levels for the state-owned corporation, GGRAsia reports.
Continued Industry Acceleration:
The doubled net income levels on a year-on-year basis testify to the continued acceleration of the gaming industry that started in the post-pandemic period to reach around $ 1.0 billion in revenues at the end of 2022, which stood for an almost 70% revenue growth in comparison with the prior year. In fa…
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