Friday, April 19, 2024
HomeNewsPhilippinesPremium Leisure Corp. sees 50% increase in gaming revenue last year 

Premium Leisure Corp. sees 50% increase in gaming revenue last year 


Philippines-headquartered integrated resort, casino, and lottery company Premium Leisure Corp. (PLC) has recorded an impressive growth in 2023.

According to its latest release, the outstanding performance of PLC’s gaming revenue share, through its wholly-owned subsidiary PremiumLeisure & Amusement, Inc. (PLAI), was a major contributor to the Company’s overall success in 2023. 

PLC is an investor in the City of Dreams Manila; its gaming revenue share saw a 50 percent increase in 2023, reaching PHP2.34 billion ($42 million) compared to PHP1.56 billion ($28 million) in 2022.

Regarding consolidated revenues, the PLC saw 41 percent of growth in its consolidated revenues for 2023, totaling PHP2.94 billion ($52 million), compared to the previous year’s PHP 2.08 billion ($37 million). 

This surge in performance translated into a consolidated net income of PHP2.33 billion ($42 million) in 2023, reflecting an 85 percent rise from the net income of PHP1.26 billion ($22 million) in 2022. 

The company’s press release notes that the substantial growth in revenue and income highlights its ‘strong financial performance’ and ‘successful strategies in navigating the market landscape’.

Additionally, Pacific Online Systems Corporation (POSC), a majority-owned subsidiary of PLC, also delivered impressive results in 2023. The company generated a gross revenue of PHP601 million ($10.7 million) from their Equipment Rental and Commission Income, marking a 16 percent increase from the PHP519 million ($9.3 million) revenue in 2022. 

PLC’s operating EBITDA for 2023 is PHP2.25 billion ($40 million), up 59 percent from the EBITDA of PHP1.41 billion the previous year.

AGBrief Editorial
AGBrief Editorial
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.