State-run Philippine Amusement and Gaming Corporation (PAGCOR) appears to be unscathed by Philippine President Rodrigo Duterte’s war on online gaming, with revenues soaring at 17 percent at the end of 2016.
Quoting PAGCOR chair Andrea Domingo, The Philippine Daily Inquirer reported that PAGCOR posted a solid, PHP55 billion (US$1.11 billion) revenue for 2016 compared to PHP47 billion (US$945.96 million) for 2015.
The strong revenue comes despite the nationwide closure of hundreds of eGames cafes after Duterte assumed office in June.
Domingo attributed PAGCOR’s strong performance to the combined effects of an improving market, as well as newly implemented in-house efficiency measures. She also cited the casino industry’s legal victory against the Philippines’ Bureau of Internal Revenue (BIR) last year.