• 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’s net income tops US$27mln in first quarter

May 02, 2018 Newsdesk Latest News, Philippines, Top of the deck  


Pagcor’s net income tops US$27mln in first quarter

State-run Philippine Amusement and Gaming Corp (Pagcor) reported net income of PHP1.42 billion (US$27.3 million) for the first three months of 2018. The figure was 7.6 percent higher than in the prior-year period.

Total revenue from gaming operations increased by 12.5 percent year-on-year to PHP15.80 billion, compared to PHP14.04 billion in the first quarter of 2017.

The gaming regulator said it paid out a total of PHP8.29 billion in gaming taxes and contributions from that first quarter gaming revenue. The deductions included PHP7.49 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 that national government body.

Pagcor reported total income net of taxes of nearly PHP8.45 million in the first quarter, a 9.3-percent increase from a year earlier. But its total expenses increased by 9.7 percent year-on-year to PHP7.03 billion in the first quarter of 2018, according to a financial statement posted on its website on Monday.

Pagcor, an operator of publicly owned casinos as well as the regulator for the country’s entire casino industry, which includes privately developed venues, said regulatory fees collected from licensed casinos reached approximately PHP5.70 billion in the three months to March 31. Income collected from offshore gaming operators stood at nearly PHP1.15 billion in the reporting period, according to Pagcor’s latest financial statement.

Pagcor posted net income of PHP4.95 billion last year, an increase of 10.9 percent from 2016, according to official data. The results were positively affected by an increase of 7.6 percent in revenue from gaming operations.


  • tweet
Related articles
  • Melco Resorts debt/EBITDA ratio to worsen in 2021: Moody’s
    Melco Resorts debt/EBITDA ratio to...

    Jan 14, 2021  

  • Macau govt expects US$3.7bln in 2020 gaming tax
    Macau govt expects US$3.7bln in 2020...

    Dec 10, 2020  

More news
  • Londoner Macao first phase launch Feb 8 says Sands China
    Londoner Macao first phase launch Feb 8...

    Jan 21, 2021  

  • Grand Lisboa Palace backer SJM taps circa US$1bln in notes
    Grand Lisboa Palace backer SJM taps...

    Jan 21, 2021  


Latest News

Londoner Macao first phase launch Feb 8 says Sands China

Londoner Macao first phase launch Feb 8 says Sands China

Jan 21, 2021  

The first phase of the newly-rebranded Macau casino resort the Londoner Macao is to be launched on February 8, the property’s promoter Sands China Ltd, announced on Thursday. The company said the...
Read More
Grand Lisboa Palace backer SJM taps circa US$1bln in notes

Grand Lisboa Palace backer SJM taps circa US$1bln in notes

Jan 21, 2021  

Sands China sixth Macau op to pledge staff extra payment

Sands China sixth Macau op to pledge staff extra payment

Jan 21, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"Our expansion from 2021 and beyond will create tremendous opportunities to team members”

Francis Lui Yiu Tung

Vice chairman of Macau-based casino operator Galaxy Entertainment



Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Casino op MGM China to pay most staff discretionary bonusCasino op MGM China to pay most staff discretionary bonus January 18, 2021
  • Wynn and Melco also flag bonus for Macau staffWynn and Melco also flag bonus for Macau staff January 19, 2021
  • Investors see 2H Macau gain, rebound 2022: BernsteinInvestors see 2H Macau gain, rebound 2022: Bernstein January 19, 2021
  • Wakayama casino RFP deadline affirms still 2 suitorsWakayama casino RFP deadline affirms still 2 suitors January 18, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us