• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Pagcor net income dips 71pct in full-year 2019

Jan 31, 2020 Newsdesk Latest News, Philippines, Top of the deck  


Pagcor net income dips 71pct in full-year 2019

The Philippine casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), saw its 2019 net income dip by 71.4 percent year-on-year to PHP9.01 billion (US$177.2 million), according to data released on Thursday.

The decline for the 12 months to December 31 was on gross income from gaming operations that rose by 11.7 percent, to PHP75.76 billion.

Pagcor directly operates a suite of state-run casinos and oversees a number of private-sector ones. Its own brand of casinos is called “Casino Filipino”.

Cash flows from operating activities included PHP24.70 billion in income from casino customers, and PHP53.28 billion from – respectively – junket operators, non-casino customers and “other” income.

Pagcor said regulatory fees collected from licensed casinos – included in its gaming operations revenue – reached approximately PHP28.68 billion in full-year 2019, up 18.9 percent from the prior-year period

Out of its 2019 gross income, Pagcor had to deduct just over PHP39.77 billion. Of that, nearly PHP35.93 billion was for the national government’s 50 percent share; nearly PHP3.79 billion for a 5-percent franchise tax; and PHP60 million to the Dangerous Drugs Board.

The regulator said that if non-regular income in 2018 – amounting to PHP37.72 billion and related to a land sale to Philippine casino operator Bloomberry Resorts Corp – had been excluded, then the 2019 “other income” column would have posted growth of 11.2 percent.

Pagcor’s total expenses for the period fell by 17.3 percent, to PHP30.48 billion. That tally included a 31.7 percent decrease – to PHP13.62 billion – in subsidies payable to national government agencies or “NGAs” under the heading “corporate social responsibility projects”.


  • tweet
Related articles
  • Metro Manila, Entertainment City stay in GCQ to March 31
    Metro Manila, Entertainment City stay...

    Mar 03, 2021  

  • Int Ent half-year loss up, mulls financing for Manila IR
    Int Ent half-year loss up, mulls...

    Feb 25, 2021  

More news
  • UA Galaxy Cinemas normal as HK ops cease: Galaxy Ent
    UA Galaxy Cinemas normal as HK ops...

    Mar 08, 2021  

  • Galaxy’s Lui hopes Macau 2H better amid vaccine rollout
    Galaxy’s Lui hopes Macau 2H better...

    Mar 08, 2021  


Latest News

UA Galaxy Cinemas normal as HK ops cease: Galaxy Ent

UA Galaxy Cinemas normal as HK ops cease: Galaxy Ent

Mar 08, 2021  

UA Galaxy Cinemas, the multiple-screen cinema facility at the Galaxy Macau casino resort, is operating as usual, the resort promoter Galaxy Entertainment Group Ltd has confirmed to GGRAsia. In...
Read More
Galaxy’s Lui hopes Macau 2H better amid vaccine rollout

Galaxy’s Lui hopes Macau 2H better amid vaccine rollout

Mar 08, 2021  

Pace of Macau GDP decline slows in 4Q amid tourism gains

Pace of Macau GDP decline slows in 4Q amid tourism gains

Mar 08, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Construction work is progressing smoothly and even though the Covid-19 outbreak has impacted our original timeline, we remain committed to this groundbreaking project"

Grant Johnson

Property general manager of City of Dreams Mediterranean



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Pansy Ho again cuts stake in MGM Resorts, for US$57mlnPansy Ho again cuts stake in MGM Resorts, for US$57mln March 4, 2021
  • LVS plans to keep U.S. base, stock listing: spokesmanLVS plans to keep U.S. base, stock listing: spokesman March 4, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us