PAGCOR reports total income up 18 percent in 2015

PAGCOR reported total income of P47.2 billion (US$995.8 million) in the 12 months ended Dec. 31, 2015 up 18 percent from the previous year, according to a financial statement posted on its website.

The statement shows strong performance from gaming operations in 2015, at P43.4 billion, up 45 percent from 2014. Other income totaled at P2.1 billion, whilst income from other related services, including the regulatory fees collected from licensed casinos and other gaming activities came in a P1.8 billion for the year.

Total expenses was reported P43.4 billion, resulting in a net income of P3.8 billion for the year.

In January, PAGCOR said gross gaming revenue in the Philippines reached P130 billion in 2015, marking an increase of 17 percent from 2014. PAGCOR chairman and CEO Cristino Naguiat Jr was confident the market will recover and was positive of the performance.

 “We showed a big improvement last year despite the business environment,” he said, “What’s important for us in the Philippines is that we met all our 2015 targets.”