PAGCOR income up 7.56% in 2017

Philippine Amusement and Gaming Corp (PAGCOR) has reported a 7.56% year-on-year increase in its income from gaming operations during the full financial year 2017.

In its annual financial report for the period, PAGCOR posted income figures of PHP57.34bn in 2017 beating the PHP 53.30bn reported in full year 2016, a rise of just over PHP4bn.

The total amount of money paid to the Philippine government in gaming taxes and contributions also rose year-on-year by 7.56%, from PHP27.98bn in 2016 to over PHP30.10bn in the full year 2017.

As a result of these contributions the total income net of gaming taxes and contributions during full year 2017 was PHP29.75bn, rising 9.91% from 2016s figures.

PAGCOR’s total expenses incurred during the full year 2017 grew year-on-year by 9.49% from a 2016 high of PHP22.58bn to PHP24.72bn.