Monday, May 27, 2024
HomeNewsPhilippinesPremium Leisure Corp sees 20% increase in 2022 gaming revenue from COD Manila

Premium Leisure Corp sees 20% increase in 2022 gaming revenue from COD Manila

FOLLOW US

The Philippines’ Premium Leisure Corp, an investor in City of Dreams Manila, saw a 20 percent increase in its gaming revenue share from the property in 2022 – topping PHP1.56 billion ($22.67 million).

The group notes that the increase was ‘driven mainly by further re-opening and revitalized economic activities in 2022’.

The group’s share in the Melco Resorts-operated property in Manila contributed to a 20 percent increase in its consolidated revenues of PHP2.08 billion ($37.49 million) as well as the 12 percent yearly increase in consolidated net income of PHP1.25 billion ($22.53 million).

During the year, the group also recorded a 22 percent revenue uptick in its lottery systems arm, Pacific Online Systems Corporation, topping PHP519 million ($9.36 million).

The group owns 50.1 percent of the company which leases out lottery systems to the state-run Philippine Charity Sweepstakes Office for their lottery and KENO operations.

Operating EBITDA for PLC during the year rose by 22.6 percent, topping PHP1.41 billion ($25.44 million).

The positive results have prompted PLC to declare a dividend of PHP0.05 per share, payable on March 28th.

AGBrief Editorial
AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
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.

RELATED ARTICLES