The Philippines gaming pie continues to grow with regulator PAGCOR booking a 15.62% increase in income from gaming operations to Php18.27 billion (US$353.5 million) in the three months to 31 March 2019.
In its 1Q19 statement of comprehensive income, PAGCOR revealed that its total income net of gaming taxes and contributions for the period had come in at Php9.69 billion – up 14.71% year-on-year – with Php9.59 billion in contributions having been paid including a mandatory 50% government share and 5% franchise tax.
The gaming regulator also saw its expenses for the period rise 15.76% to Php8.14 billion, resulting in a final net income figure for the three months of Php1.55 billion (US$30 million) – up 9.1%.
The 1Q19 results follow PAGCOR’s previously announced 18.34% increase in income from gaming operations in 2018 to Php67.9 billion (US$1.3 billion).
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