PAGCOR expenses reach US$266.6m in H1

Expenses were up 26 per cent in year-on-year terms.

The Philippines.- The Philippines Amusement and Gaming Corp (PAGCOR) has reported that its expenses amounted to PHP15.64bn (US$266.6m) in the first half of the year. The figure was up 26 per cent compared to last year (PHP12.3bn). The regulator said actual spending had surpassed its target expenses by 20 per cent.

Personnel services expenses rose by 28 per cent to PHP7bn (US$119.3m). Maintenance and other operating expenses increased by 52.5 per cent to PHP5.3bn (US$90.4m).

PAGCOR has reported income was up 121.48 per cent in year-on-year terms to PHP6.56bn (US$112.34m) in the first six months of the year. Gross income reached PHP51.76bn (US$886.17m), up by 42.92 per cent. The majority of revenue, PHP45.39bn (US$777.1m), was generated from gaming operations, with 45.53 per cent from online gaming, which includes E-Games, E-Bingo, and bingo grantees.

Integrated resorts and licenced casinos contributed PHP16.06bn, 35.39 per cent of all gaming revenues, while PAGCOR-operated casinos under the Casino Filipino brand generated PHP6.93bn.

See also: PAGCOR denies ordering immediate shutdown of offshore gaming operators