Supplier News
Philippines – PAGCOR reports 29.7 per cent increase in gross earnings
By Phil - 25 July 2016
PAGCOR (The Philippine Amusement And Gaming Corporation) saw the first six months of 2016 produce a 29.7 per cent increase year-on-year in gross earnings which reached $570.9m.
The state-owned firm operates over 30 casinos in the Philippines also saw a 2.5 per cent increase year-on-year, in net income which hit US$51.9m.
Net income increased by 19.6 per cent to $553.1m and was 29.4 per cent over its $427.7m target.
The second-quarter has produced earnings of $318.2m from its gaming operations, which represented a 35.4 per cent increase quarter-on-quarter, with total revenues for the three months to the end of June growing by 33.1 per cent to reach $326.1m.
