GGRAsia – Pagcor 2020 gaming op rev likely US$1.4bln, says official

Pagcor 2020 gaming op rev likely US$1.4bln, says official

Aug 26, 2019 Newsdesk Latest News, Philippines, Top of the deck

Casino regulator-cum-operator the Philippine Amusement and Gaming Corp (Pagcor) expects its revenue from gaming operations to hit PHP73.6 billion (US$1.4 billion) in full-year 2020. That is according to Pagcor vice president James Patrick Bondoc, quoted by local media.

Mr Bandoc disclosed the figure during a budget briefing on Friday to the Congress of the Philippines.

He added that Pagcor’s projected overall revenue for 2020 stood at PHP75.1 billion, representing a 1.8-percent increase compared to the estimate for full-year 2019.

Pagcor expects to collect PHP1.5 billion from related services and other income in 2020, Mr Bandoc said.

He added that Pagcor’s total operating expenses were expected to reach PHP19.7 billion in 2020, up by 16.7 percent from this year’s budget.

Pagcor reported in July that income from gaming operations in the six months to June 30 stood at approximately PHP36.57 billion, up 9.3 percent from a year earlier. Pagcor said at the time regulatory fees collected from licensed casinos – included in its gaming revenue – reached approximately PHP13.67 billion in the first half of the year.

Pagcor reported a total income from gaming operations of PHP67.85 billion for full-year 2018.