THE Philippine Amusement and Gaming Corp. (Pagcor) posted revenues of P3.5 billion in September, its fifth consecutive record-breaking month, putting the agency in the position to meet its full-year target of at least P35 billion.

Chairman Cristino Naguiat Jr. said the agency’s January-to-September revenues stood at P26.78 billion, 13.97-percent higher compared with the same period last year. “This means that an average of P3 billion for the next three months will bring us to P35 billion, which is our target for the year,” Naguiat said.

Pagcor’s year-to-date share to nation building totaled P12.32 billion, or P1.01-billion higher compared with the same period in 2010.

Naguiat also noted that Pagcor’s savings from operating expenses reached P1.07 billion in the first three quarters, allowing the agency to engage in more projects.

“Because of our savings, we are upgrading everything. We [have] even allocated P1 billion every year for the construction of classrooms. We are cutting expenses on several things,” he said. 

Pagcor, he said, is upgrading its facilities and is acquiring new equipment and gaming machines. It is also connecting all its 13 casinos nationwide with its computerization program, so all facilities can jointly participate in big-ticket events. This month, Naguiat said Pagcor is holding a weekly slot machine tournament involving all its facilities.

The main growth driver for Pagcor revenues, he said, is the increase in the attendance of players from overseas.

“About 25 percent of our income comes from foreign players, basically they are driving [growth] and it’s a huge potential because right now they are not that many. Our foreign players for the year increased by 10 percent,” he said.

For 2012, Pagcor is seeking to increase its revenues to P42 billion, he said. The company ended 2010 with a revenue haul of P31.46 billion.