{
  "id": 14487440,
  "title": "PAGCOR profit to drop below P5 B this year",
  "url": "https://urgent.news/2026/10/14/pagcor-profit-to-drop-below-p5-b-this-year",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/15/2563236/pagcor-profit-drop-below-p5-b-year"
  },
  "original_language": "en",
  "account": "The Philippine Amusement and Gaming Corp. (PAGCOR) anticipates its net income to fall below P5 billion this year, down from P17.47 billion in 2025. The decline is attributed to higher mandatory remittances to the government’s sports agency and weaker gaming revenues due to a sluggish economy. PAGCOR chairman Alejandro Tengco stated that the regulator would be content with around P5 billion in net income for the year, as soaring financial obligations hinder its earnings. The Supreme Court ruling mandating a five percent of gross revenues remittance to the Philippine Sports Commission (PSC) has significantly increased this amount by nearly P4 billion. Before the ruling, PAGCOR provided a monthly subsidy to the PSC of P180 million to P200 million, but now pays about P400 million to P450 million monthly. This additional remittance has negatively impacted PAGCOR's financial performance in the first half of the year, with net income plummeting by 85.3 percent to P1.58 billion from January to June, even though the overall revenue decreased by 26.6 percent to P43.32 billion.",
  "summary": "The Philippine Amusement and Gaming Corp. expects its net income to fall below P5 billion this year from P17.47 billion in 2025, weighed down by higher mandatory remittances to the government’s sports agency and weaker gaming revenues amid slowing consumer spending.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}