Published
Land-BasedFinancialLegal & Regulatory

PAGCOR sees profits soar

The

PAGCOR
Philippine Amusement and Gaming Corporation (PAGCOR) has seen a sharp rise in its profits as detailed by a financial statement posted on their official website. The figures show an increase of 24.9% in net income from this time last year, with income from gaming operations also rising 8.4% in the same period.

PAGCOR's main expenditure came in the form of gaming taxes and contributions from their first half revenue, totalling a staggering PHP14.84bn (£225m).

As a result of its amalgamation of roles PAGCOR is required to give at least 50% of its annual profits (PHP 13.40bn) to the Philippines' treasury, a beneficial relationship given the significant Philippines gaming boom.

This will all be great news for Andrea Domingo, the head of PAGCOR. It's been a tough few months for PAGCOR, which saw it suspend the operations of Resorts World Manila as a result of a lone gunman, with many experts’ assuming that this would be the start of the undoing of the rapidly growing industry. Domingo stated in late June that PAGCOR was expecting to increase its gaming revenues by nearly 9% from PHP55.1bn to PHP60bn from the previous year.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...