PAGCOR posted first quarter income rise

During the first quarter, PAGCOR reported a net income growth of 7.6 per cent year-on-year to €22.5 million.

Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) has reported that during the first three months of 2018 it posted net income of €22.5 million, a 7.6 per cent improvement year-on-year. Furthermore, total revenue from gaming operations grew 12.5 per cent to €254.4 million, compared to last year’s €225 million.

According to PAGCOR’s reports, during the first three months of 2018 it has paid €133 million in gaming taxes and contributions, nearly a million higher than the €119 million reported in 2017. The regulator, which operates several state-run casinos in the Philippines, also had expenses of €112.7 million, also higher than 2017’s €103 million.

During the beginning of 2018, PAGCOR has continued to go down the path that saw it report a 9 per cent raise in casino GGR. CEO Andrea Domingo revealed a total € 973 million (up from 2016’s € 894.8 million) from PAGCOR-owned and operated casinos, as well as from royalties and licence fees from gaming firms.