The Philippine Amusement and Gaming Corp. (Pagcor) saw its net income sink to P132.67 million in the first nine months of 2020. In a text message to The Manila Times, Pagcor Chairman and Chief Executive Officer Andrea Domingo blamed the coronavirus disease 2019 (Covid-19) pandemic for the reduced profit without elaborating further. In a breakdown, income from gaming operations slipped by -59.96 percent to P22.32 billion from P55.76 billion a year ago. Earlier, a Pagcor official attributed the lower gaming revenues to the subdued income of Philippine offshore gaming operators (POGOs) and their service providers. Pagcor’s income from other related services hit P601.11 million in January to September, a 46.06-percent plunge from P1.11 billion a year earlier.

Source: Manila Times October 28, 2020 16:29 UTC