PAGCOR posts income increase during Q1

According to an official statement, PAGCOR’s income was up 10% year-on-year to €26.65 million during the first quarter of 2019.

Philippines.- The Philippine Amusement and Gaming Corp (PAGCOR) released a positive financial statement for the first quarter of 2019. According to the document, PAGCOR’s income was up 9,5% year-on-year to €26.65 million.

Besides its net income improvement, they revealed gaming revenue was up 15.6% to €314.7 million, 10% better than its target.

PAGCOR-licensed casinos jumped 19% to €116 million, but income from junket gaming operations fell 9% to €3.8 million. Meanwhile, overall table game income at its own casinos was up 7% and slot machine income improved 13.6%.

2018 results

Despite the casino moratorium, the Philippine industry recorded GGR of €3.16 billion during 2018, 22.9% higher year-on-year, the Philippine Amusement and Gaming Corp (PAGCOR) revealed.

According to the country’s gaming regulator and operator, private-sector casino resorts in the Philippines managed to post an overall GGR 28.3% better than 2017’s as it reached €2.56 billion. Furthermore, it explained that the four Manila Entertainment City venues contributed to last year’s private-sector GGR.

Meanwhile, the casino junket segment achieved a 24.4% GGR hike as it posted €878 million for full 2018. It also accounted for 27.7% of total casino GGR for the period and was mainly recorded at private-sector casinos.

The industry managed to grow despite an anti-gambling policy that keeps companies uncertain about the future in the country. Nonetheless, as long as figures continue to grow, they have nothing to worry about.