Operator News
The Philippines – PAGCOR up a further 27 per cent so far in 2017
By Phil - 8 May 2017
PAGCOR, the Philippine Amusement and Gaming Corp, has seen its net income increase by 26.9 per cent increase for the first quarter of 2017, reaching P1.3bn (US$26.3m).
GGR saw a similar increase, reaching P14bn and a year-on-year improvement of 26.7 per cent.
PAGCOR Chairperson Andrea Domingo said the increase was due to ‘newly implemented in-house efficiency measures.’
“We introduced more effective revenue monitoring systems,” she said. 2We also made several reassignments of general managers and branch managers. Of course, it is worth telling that there are more participatory management practices, constant communication between corporate offices and branches. We are now earning more money from our own casinos than we did before.”
PAGCOR operates 46 sites throughout the country. Its estate includes 565 gaming tables and 10,271 EGMs at Casino Filipino venues.
It is also a regulator for a further 10 private-sector casinos that operated an aggregate of 1,280 gaming tables and 7,205 EGMs.
It will look to sell off its casinos and will invite bids from the private sector by the end of 2017. The country’s Finance Secretary confirmed he is not aware yet of any expressions of interest.
