Philippines gaming regulator PAGCOR raked in income from gaming operations of Php15.8 billion in the three months to 31 December 2018, a 12.5% year-on-year increase.
The solid growth figures saw the government’s share through taxes increase from Php7.9 billion in 1Q17 to Php8.3 billion in 2018, which includes a mandatory 50% tax on PAGCOR’s gaming income and a further 5% Franchise Tax.
PAGCOR’s expenses, which include corporate social responsibility payments and contributions mandated by special law, grew 9.66% to Php7.0 billion, leaving the regulatory body with net income of Php1.4 billion – up 7.63% on the same period in 2017.
The Philippines gaming industry has been on a hot streak of late, with casino GGR rising 15.7% in 2017 to Php75.9 billion.
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