The Philippines’ gaming regulator/casino operator reported a one-quarter rise in profits in the first half of 2017.
Figures released this week by the Philippine Amusement and Gaming Corporation (PAGCOR) show its revenue from gaming operations rising 8.4% year-on-year to P28.3b (US $558.6m) in the six months ending June 30, while profit jumped 24.9% to P3b ($60.2m). PAGCOR’s mandatory contributions to the Philippine government treasury totaled P13.4b in H1, also up 8.4% year-on-year.
The year-on-year revenue rise was slower in Q2, rising 1.4% year-on-year to P14.2b, due in part to the temporary closure of gaming operations at the Resorts World Manila casino following the horrific attack by a lone gunman in June that resulted in the deaths of 37 individuals.
PAGCOR is in the process of transitioning to a purely regulatory role, but in the meantime, its casino operations reported table game revenue of P5.2b, slots winnings of P6.1b, while electronic bingo added P4.4b. Income from PAGCOR-licensed private casinos was just under P9.5b.