Good first quarter for Philippines regulator

Despite the uproar over the past year in the Philippines online gambling sector, national regulator and licensor Philippine Amusement and Gaming Corp. (Pagcor) has managed to produce a Q1-2017 net income statement up 26.9 percent on a year-on-year basis.

Most of that comes from the land casinos operated by the organisation in an unusual both-operator-and-regulator situation which could change, if the Finance Ministry has its way and persuades Pagcor to sell off its land casino assets to raise funds for the national budget.

The organisation reported a 26.9 percent rise in net income during to quarter to P1.3 billion (around US$26.4 million).

Income from gaming totalled P14 billion, an increase of 26.7 percent y-o-y, whilsts total expenditure reached P6.4 billion…a year-on-year increase of 36.7 percent.

Pagcor chairwoman Andrea Domingo attributed the group’s general improvement to management changes, more efficient operations and the market itself.