Pagcor gross earnings to reach P61 billion: Domingo

The Philippine Amusement and Gaming Corporation (Pagcor) says it is projecting gross income to reach P61 billion (US$1.2 billion) in 2017.

Pagcor chairperson Andrea Domingo announced the regulator’s forecast during the launch of Aqua Planet, the country’s biggest water theme park.

“In 2016, it became P55 billion and we are projecting this year to P61 billion. I am stating this because now that we have Aqua Planet here, there will be more people coming in and there will be more potential players,” said Domingo, quoted by SunStar Pampanga.

Pagcor posted a strong increase in gaming revenue in 2016, which rose to P55 billion, a 17 percent increase from the previous year.

At the time, Domingo said that revenues saw a further boost after a new policy was introduced which allowed the Bureau of Internal Revenue to collect income taxes from the regulator.

Pagcor had also bolstered revenues in 2016 through the issuance of its Philippine Offshore Gaming Operators (POGO) licenses, which were first announced towards the end of 2016.

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