Pagcor 9-month net income increases 36.3 pct

The Philippine Amusement and Gaming Corp. (Pagcor) has posted net income of P4.4 billion in the nine months to September 30, 2017, a 36.3 percent increase from the prior-year period.

Income from gaming operations reached P42.4 billion. After taxes and contributions, total income net gaming taxes and contributions reached P22.2 billion, a 15.7 percent increase from the previous year.

Gross expenses also rose in the nine months, reaching P17.7 billion.

Pagcor operates a number of casinos across the country.

In September, Finance Secretary Carlos G. Dominguez III announced that the privatization of casinos operated by Pagcor may start as early as next year.

Dominguez said they were currently conducting studies to determine each casino’s respective valuation, with the privatization process itself likely to take several years.