The Philippine Amusement and Gaming Corporation managed to get a P1.04 billion profit for the year’s first quarter. The amount exceeded their target by nearly ten times. PAGCOR recorded a net income increase by 11% from 2015’s P937.62 million from the same three-month period.
The first quarter profit settled 899% above the targeted P104.11 million. This was on the back of a year-on-year rise in revenues and a decrease in expenses. PAGCOR contributed P7.14 billion to the government, which is about 68% of its expenses during the period. This is a 20% increase from the P5.93 billion remitted from 2015’s first quarter.
