PAGCOR H1-2018 better than expected

The Philippine Gaming and Amusement Corp. has posted its H1-2018 financials, reporting that it has exceeded expectations and targets by 9.7 percent.

The operator-regulator reported revenue up 18.3 percent y-o-y from gaming operations at PHP33.4 billion (US$629.4 million).

Net income reached PHP15.88 billion, whilst profit soared to PHP35.79 billion, compared with PHP3.05 billion in the same period a year ago.

Management noted that the performance numbers were boosted by the sale of land to Bloomberry Resorts & Entertainment for PHP32.71 billion.

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