The Philippine casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), reported total income of nearly PHP79.38 billion (US$1.41 billion) for full-year 2023. That was up 34.6 percent from the previous year’s PHP58.96 billion, according to data released on Tuesday.

Gross income from gaming operations rose 32.8 percent year-on-year, to PHP73.11 billion, showed the data.

Pagcor’s total expenses for 2023 grew by 18.0 percent year-on-year, to nearly PHP26.65 billion. During the period, Pagcor had also to deduct just under PHP45.63 billion in subsidies, financial assistance and other contributions to the government. That figure was 44.2 percent greater than the PHP31.65-billion deduction for such matters in 2022.

The gaming regulator-cum-operator posted 2023 net income of nearly PHP6.82 billion, an increase of 53.3 percent on 2022’s just under PHP4.45 billion.

Pagcor is an operator of publicly-owned casinos as well as the regulator for the Philippines’ entire casino industry, which includes privately-developed venues. Its own brand of casinos is called “Casino Filipino”.