Pagcor reports net income increase
The regulator reported a 36.3 percent increase in net income for the first nine months of 2017.
Philippines.- The Philippine Amusement and Gaming Corp (Pagcor) reported the numbers of the first nine months of the year, which showed a net income of US$84.4 million, a 36.3 percent increase when compared to the same period in 2016.
The regulatory body of the Philippines said that gaming operations’ income rose to US$819 million in the nine months ended September 30, which represents an 11.1 percent increase from 2016’s results. However, during the third quarter of the year to September 30, gaming operations reported income of US$272 million, almost a 1 percent decline when compared to the previous quarter.
The second quarter of the year was particularly special for the Philippine gaming market as Resorts World Manila had to close its doors after a deadly shooting where 37 people died. The facility was closed for over a month and lost US$1.1 million every day.
Moreover, Pagcor said that the total expenses during the first three quarters increased 10.8 percent to US$342 million, whilst it paid US$430 million in gaming taxes between January and September.
