PAGCOR remittances hit record 21.2b pesos in 2013

    The Philippine Amusement and Gaming Corporation (PAGCOR) said its remittances to the government came to a record P21.20 billion ($467.8 million) last year. That was more than half of its P40.52 billion gross income in 2013. The company reported net income of 3.09 billion pesos, up 10.4 percent from the year earlier and beating its own net income target by 4.7 percent. Of the corporation’s 40.52 billion peso revenues in 2013, P27.58 billion was generated from its gaming operations.