Philippines casino investor Premium Leisure Corp has announced a 94% year-on-year increase in its net income to Php1.53 billion (US$29.45 million) for the nine months ended 30 September 2017, the rise coming primarily from gaming operations at City of Dreams Manila.
The company, which has an operating agreement with MCE Leisure Philippines Corporation that entitles it to a share of gaming revenues at City of Dreams Manila, reported revenues of PhP3.84 billion (US$73.89 million) through 20 September, up by 54% on 2016 numbers. Gaming share revenue grew by 95% to Php2.16 billion.
Premium Leisure said it had enjoyed improvement across all business segments, including in equipment lease rentals resulting from the higher national lottery and KENO sales of the Philippine Charity Sweepstakes Office (PCSO) for the year.
Revenue from equipment lease rentals, commission and distribution income through its 50.1% owned subsidiary, Pacific Online Systems Corporation (POSC), was Php1.68 billion as of 30 September, an increase of 21% year-on-year “driven by higher Lotto and Keno sales coming from higher jackpot prize games and the roll out of additional terminals, respectively.”
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