A surge in financial performance has been reported, with profits climbing nearly 50% to P14 billion over the first nine months, despite growing debate surrounding the future of online gambling within the nation.
The impressive gains are attributed to a concentrated effort on improved governance, a sweeping digital overhaul, and a commitment to responsible gaming practices, according to the organization’s leadership.
Total revenue reached P84.09 billion by the end of September, marking a 5.87% increase, with the vast majority – P75.93 billion – stemming directly from gaming operations.
While online gaming remains a primary revenue source, lawmakers continue to push for stricter regulations, even considering a complete prohibition, though no definitive action has been taken.
The organization demonstrated a significant commitment to national development, remitting P54.26 billion to support crucial government projects during the same period.
A substantial P36.06 billion was directly allocated to the National Government, fulfilling obligations outlined in Presidential Decree 1869, representing half of all gaming revenue after franchise tax deductions.
These funds are channeled towards vital initiatives, including support for the Dangerous Drugs Board and the Philippine Health Insurance Corp., bolstering essential public services.
Beyond national contributions, P3.79 billion in franchise taxes and P609.87 million in corporate income tax were paid to the Bureau of Internal Revenue, further strengthening the national treasury.
A significant P11 billion was dedicated to socio-civic projects, including direct contributions to the President’s Social Fund, demonstrating a broad commitment to community welfare.
The Philippine Sports Commission also benefited from increased support, receiving P1.80 billion – an 8.66% increase year-over-year – fueling athletic development and achievement.
Recognizing success, P26.54 million was awarded to winning international athletes and their coaches, celebrating excellence on the global stage.
Further allocations included P142.42 million to the Board of Claims and P201.47 million to the Renewable Energy Trust Fund, supporting diverse national priorities.
Local communities also shared in the prosperity, with cities hosting Casino Filipino branches receiving a collective P508.20 million in revenue sharing, fostering regional economic growth.
