PAGCOR reports 68 H1 revenue increase
The Philippine Amusement and Gaming Corporation (PAGCOR) has published an H1 financial statement, reporting positive results as travel restrictions are eased in the country
The Filipino Amusement and Gaming Corporation (PAGCOR) has published an H1 financial statement, reporting confirming results as locomote restrictions are eased inwards the country.
The organic structure generated PHP 26.7bn ($478.2m) from Jan 2022 to June 2022. This represents a 68% increment from the PHP 15.88bn add from the same full stop inward 2021.
Additionally, PAGCOR’s end-of-June income aim of PHP 24.41bn was exceeded past 9%.
H1 2022 income from gaming operations amounted to PHP 24.7bn, a 67% increase from the H1 2021 tote up of PHP 14.77bn.
Income from other services and businesses also increased, rising 18% from PHP 753.6m to PHP 890m.
Expenses for the full point increased as well, amounting to PHP 10.5bn, representing a 62% increase from the H1 2021 tally of PHP 6.49bn.
The majority of the company’s expenditures went towards personnel costs, totalling PHP 7bn, with maintenance and other operating expenses amounting to PHP 2.3bn.
The positive results follow after what was referred to as a “bad start” to the year, according to PAGCOR Chair and CEO Andrea D. Domingo, as non-essential businesses were forced to faithful their doors amid a surge inwards Covid-19 cases.
The state-owned dead body looks set to continue maturation and receive revenue targets, as the economy bounces after pandemic-related shutdowns.
The pandemic had a substantial essence on Pagcor’s financial results, network income inwards 2021 plummeted from PHP 1.55bn to PHP 203.6m, a come of nearly 87%.