• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Pagcor income up as Philippine 2Q gaming revenue soars

Jul 23, 2015 Newsdesk Latest News, Philippines, Top of the deck  


Pagcor income up as Philippine 2Q gaming revenue soars

The state-run Philippine Amusement and Gaming Corp (Pagcor) reported net income of PHP2.4 billion (US$53 million) for the first six months of 2015, up by 81.1 percent from the prior-year period. Pagcor said it was 40.1 percent ahead of its own PHP1.7 billion target for net income in the six-month period.

Pagcor’s net income rose as the country’s gaming revenue jumped in the period, mainly in the second quarter. Income from gaming operations stood at PHP21.8 billion in the first six months of 2015, up 46.4 percent from a year earlier. In the three months to June 30, income from gaming operations reached PHP13.4 billion, a 60 percent sequential improvement compared to the first quarter.

Total revenue for the first half of 2015 rose 24.2 percent year-on-year to PHP24.8 billion, Pagcor reported. For the second quarter alone, total revenue was PHP14.6 billion, up 43 percent from PHP10.2 billion in the first three months of the year.

The second quarter of 2015 was the first full quarter of operations of the private-sector City of Dreams Manila, following the official opening on February 2. Melco Crown (Philippines) Resorts Corp, a unit of Melco Crown Entertainment Ltd, manages the casino resort.

In a recent interview, Pagcor’s chairman Cristino Naguiat said there is a “good chance” that casino gross gaming revenue in the Philippines could reach US$3 billion in 2015, up by 20 percent from the previous year.

In its latest report, Pagcor said that total operating expenses for the first six months of 2015 fell 7.5 percent year-on-year to PHP6.8 billion.

The state-run company, an operator of publicly-owned casinos as well as the regulator for the country’s entire casino industry, contributed a total of PHP15.6 billion to state funds in the first half of the year. That figure included PHP10.3 billion directly transferred to the Bureau of the Treasury. Pagcor is required by law to pass at least 50 percent of its annual gross earnings to the government’s treasury bureau.

Pagcor posted net income of PHP3.25 billion in 2014, an increase of 5.1 percent from 2013, according to official data.


  • tweet
Related articles
  • Progress in Philippine gaming AML rules: regional watchdog
    Progress in Philippine gaming AML...

    Aug 05, 2022  

  • Philippines 2Q casino GGR up 40pct q-o-q to US$824mln
    Philippines 2Q casino GGR up 40pct...

    Aug 03, 2022  

More news
  • Covid entry tests for mainlanders to Macau, except Zhuhai
    Covid entry tests for mainlanders to...

    Aug 09, 2022  

  • SOFTSWISS affiliate platform Affilka opts for cost-per-lead
    SOFTSWISS affiliate platform Affilka...

    Aug 09, 2022  


Latest News

Covid entry tests for mainlanders to Macau, except Zhuhai

Covid entry tests for mainlanders to Macau, except Zhuhai

Aug 09, 2022  

Starting from 1am on Tuesday (August 9), most travelling directly by air or sea to Macau from mainland China are required to take a nucleic acid test (NAT) upon arrival, plus another such test within...
Read More
SOFTSWISS affiliate platform Affilka opts for cost-per-lead

SOFTSWISS affiliate platform Affilka opts for cost-per-lead

Aug 09, 2022  

SOFTSWISS Sportsbook offering iFrame function

SOFTSWISS Sportsbook offering iFrame function

Aug 09, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”I believe it will take more than the offered concession term, 10 years, to see an appreciable increase in inflows of tourists [to Macau] from countries outside the existing tourist catchment areas”

David Green

Gaming and governance consultant at Newpage Consulting



Most Popular

  • More biz from foreigners hard for Macau casinos say expertsMore biz from foreigners hard for Macau casinos say experts August 8, 2022
  • Court tells Philippine AML body end bank heist cash freezeCourt tells Philippine AML body end bank heist cash freeze August 8, 2022
  • Microchip lack felt by slot makers says MGEMA boss ChunMicrochip lack felt by slot makers says MGEMA boss Chun August 5, 2022
  • Bloomberry 2Q net income more than doubles q-o-qBloomberry 2Q net income more than doubles q-o-q August 8, 2022
  • Japanese get visa-free S.Korea entry for August: reportJapanese get visa-free S.Korea entry for August: report August 4, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us