Chairwoman and Chief Executive Officer of the Philippine Amusement and Gaming Corporation (PAGCOR), Andrea Domingo (pictured, right), has allegedly revealed that the government-owned body will finish the year “using a excellent functionality,” hauling in upwards of PHP100 billion (US$1.89 billion) in gross revenue for its entire 2018.
Based on GGRAsia…
The operator of publicly-owned casinos under the Casino Filipino brand, which also oversees and licenses oversees private-sector properties, reported gross revenue of slightly more than PHP85.37 billion through the first nine months of the year, according to official statistics.
“a Excellent performance“
Quoting a recent PAGCOR press launch, the news service reports that Domingo said, “I believe we’re going to finish the year with a great performance. ” And additional, “We will be breaching the PHP100 billion revenue mark this year. ”
As of September 30, 2018, the Philippine regulator’s overall income, including net of contributions to other governmental departments and gaming taxation, was PHP58.96 billion. That amount was inclusive of PHP26.41 billion in gaming operations.
Of the gaming operations’ gross income, by legislation, the bureau is allegedly required to give 50% to the Southeast Asian country’s Bureau of the Treasury and is responsible for a franchise tax, and contributions to other social causes.
The ruler had reportedly made note of a spike in net income and revenue which it contributed to the sale of two parcels of land in Metro Manila into a subsidiary of casino operator Bloomberry Resorts Corp. , Sureste Properties Inc., for PHP37.33-billion (US$710.8-million), finalized in June this year.
Bloomberry purchase :
Through September, gross gaming revenue (GGR) in the archipelagic country in Southeast Asia stood only above PHP158.36 billion, according to PAGCOR. For the first nine months of 2018, GGR has already reportedly exceeded the figure listed for all 2017.
Senate resolution submitting :
In November, Senator Leila de Lima filed a Senate resolution calling for hearings to the increasing number of brick and mortar casinos and also of Philippines-based online gaming businesses that serve overseas customers, according to the news bureau.
Rodrigo Duterte being Advocated to re-think new casino prohibition
Philippines annual gross Gambling revenues Attain an all-time Large
