Pagcor Annual Income Exceeded $ 1.8 Billion
The head of the philippine gambling regulator pagcor andrea domingo said that 2018 would please good indicators. It is planned that pagcor gross income will be $ 1.89 billion.
According to official data, during the first nine months of 2018, pagcor, managing state casino under the casino filipino brand, as well as licensing and controlling private sector objects, received gross income by just over 85.37 billion philippine peso (php).
Andrea domingo, the head of the department, said:
«I think we will finish the year with really good indicators and overcome the mark in php100 billion».
The cumulative income of pagcor as of september 30, minus taxes on games and contributions to other government agencies amounted to php58.96 billion. The indicator included net profit in the amount of php26.41 billion from gaming operations.
According to the law, pagcor is obliged to list at least 50% of the total income on gambling operations to the state treasury (in addition to paying the tax on the franchise and other social deductions).
Pagcor also noted the growth of revenue and net profit from the sale of the earth to the the philippine casino operator bloomberry resorts corp. Bloomberry division – sureste properties inc. – payed pagcor php37.33 billion for two land plots in metro manila, on the territory of solaire resort and casino.
According to pagcor, gross income from games (ggr) in the philippines in the calendar year until september 30, several exceeded php158.36 billion. Ggr for the the fist nine months of this year has already exceeded the indicator recorded for the entire 2017 year.
Recall that pagcor ordered the abolition of all gambling franchises and preliminary licenses on boracay island.