Pagcor reports net income growth in 17H1

Gaming regulator Philippine Amusement and Gaming Corp (Pagcor) reported net income of P3.06 billion (US$60.4 million) for the six months ended June 30, 2017, up from P2.5 billion from a year ago.

According to Pagcor’s latest financial statement, the regulator reported an 8.3 percent rise in income from gaming operations in 17H1, reaching P28.3 billion, up from P26.1 billion in 16H1.

Total gaming taxes and contributions reached 14.8 billion in the half year ended June 30.

Income from other related services reached 93.9 million in the half year.

Beware of scammers

In other news, Pagcor sent a warning last week warning the public against “unscrupulous individuals who are posing as Pagcor employees to defraud unsuspecting victims.”

The scammers reportedly have swindled substantial amounts of cash from several victims in exchange for a promise of a huge contract or project from Pagcor.

“Pagcor cautions the public to be wary of individuals who would offer to facilitate deals with the Corporation in exchange for cash. Likewise, we urge everyone to immediately report such fraudulent acts to the proper authorities,” said Pagcor in a statement on July 19.