The Philippine Amusement and Gaming Corp (PAGCOR) posted a mild profit gain in the first six months of 2016, but future numbers could be much less rosy.

PAGCOR, which acts both as gaming regulator and operator, reported an H1 profit of PHP 2.45b (US $52.1m), up 2.5% from the same period last year.

Revenue from gaming operations, which make up the overwhelming bulk of PAGCOR revenue, was up 19.6% to PHP 26.1b ($555.2m). In addition to operating gaming venues under its Casino Filipino brand, PAGCOR licenses private casinos, including the integrated resorts in Manila’s Entertainment City gaming zone.

Earlier this year, PAGCOR became the largest contributor among state-controlled corporations to the government’s revenue. In H1, PAGCOR remitted PHP 17.4b ($370m) to the government, 11.6% higher than H1 2015 and 37% higher than PAGCOR’s target number.