Pagcor reports P3.2 billion net income in first nine months

State-owned gaming regulator Philippine Amusement and Gaming Corp (Pagcor) reported net income of P3.2 billion (US$66.2 million) for the nine months ended September 30, 2016.

The gaming regulator posted the results on its website, showing $38.1 billion in income from gaming operations in the period, up 17 percent from a year earlier.

Pagcor also contributed P$20 billion in gaming taxes and contributions over the nine month period.

The gaming regulator has been finding new avenues for income after deciding not to renew permits for services used by local Filipinos.

In August, Pagcor confirmed it will be issuing online gaming licenses for operators that target overseas punters.

Earlier this month, the Philippines gaming regulator said it had received interest from 76 companies for its offshore gaming licenses, with contracts to be awarded starting this month.