• 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’s 1H income up 2.5 pct on higher revenues

Jul 20, 2016 Newsdesk Latest News, Philippines, Top of the deck  


Pagcor’s 1H income up 2.5 pct on higher revenues

Casino regulator-cum-operator the Philippine Amusement and Gaming Corp (Pagcor) on Tuesday reported net income of PHP2.45 billion (US$52.2 million) for the first six months of 2016, up by 2.5 percent from the prior-year period.

Income from gaming operations stood at PHP26.08 billion in the first six months of 2016, up 19.6 percent from a year earlier. In the three months to June 30, income from gaming operations reached PHP15.0 billion, a 35.4 percent sequential improvement compared to the first quarter.

Pagcor said it was 29.4 percent ahead of its own PHP20.16-billion target for income from gaming operations in the six-month period.

Total income for the first half of 2016 rose 8.6 percent year-on-year to PHP26.92 billion, Pagcor reported. For the second quarter alone, total revenue was PHP15.37 billion, up 33.1 percent from PHP11.55 billion in the first three months of the year.

In its latest report, Pagcor said that total operating expenses for the six months to June 30 increased by 3.7 percent year-on-year to PHP7.04 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 PHP17.43 billion to state funds in the first half of the year. That figure included PHP12.36 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.

The Philippines Commission on Audit said in a recent report that Pagcor underpaid by PHP15.40-billion – over a five-year period – the central government’s 50 percent share of the earnings generated by the casino industry regulator. Pagcor argues that “it is not liable for the alleged under remittance … as it has correctly remitted the national government share”.

Pagcor posted net income of PHP3.78 billion in 2015, an increase of 16.2 percent from 2014, according to official data.


  • tweet
Related articles
  • Pagcor rev topped US$5.4bln in 6 years, says Domingo
    Pagcor rev topped US$5.4bln in 6 years,...

    Jun 30, 2022  

  • Macau Legend US$152mln loss, eyes Macau ops after 2022
    Macau Legend US$152mln loss, eyes Macau...

    Jun 29, 2022  

More news
  • Sega Sammy to launch Genesis Crest 43J cabinet in Asia
    Sega Sammy to launch Genesis Crest 43J...

    Jul 01, 2022  

  • Macau monthly GGR for June worst since Sept 2020
    Macau monthly GGR for June worst since...

    Jul 01, 2022  


Latest News

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Jul 01, 2022  

Casino equipment supplier Sega Sammy Creation Inc said in a Friday release it was debuting its Genesis Crest 43J cabinet in Asia. The product will be available at an in-person trade show, G2E Asia:...
Read More
Macau monthly GGR for June worst since Sept 2020

Macau monthly GGR for June worst since Sept 2020

Jul 01, 2022  

Kangwon 2021 average bet 61pct above foreigner casinos

Kangwon 2021 average bet 61pct above foreigner casinos

Jul 01, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


638

Aggregate number of Covid-19 cases in the latest Macau outbreak, as of Thursday-end



Most Popular

  • Macau tells casinos cut on-duty staff by 90pct: reportsMacau tells casinos cut on-duty staff by 90pct: reports July 1, 2022
  • 5-casino Thai market ok says National Assembly committee5-casino Thai market ok says National Assembly committee June 30, 2022
  • GKL says no biz lift soon from S.Korea-Japan travel easingGKL says no biz lift soon from S.Korea-Japan travel easing July 1, 2022
  • Macau monthly GGR for June worst since Sept 2020Macau monthly GGR for June worst since Sept 2020 July 1, 2022
  • Universal hopes Okada Manila biz listed before Sept 30Universal hopes Okada Manila biz listed before Sept 30 June 30, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us