In the Philippines and a senior official with the nation’s state-owned casino operator has reportedly announced that he expects his organization’s cumulative annual revenues from gaming to reach almost $1.41 billion for 2020.
According to a report, James Patrick Bondoc serves as Vice-President for the Philippine Amusement and Gaming Corporation (PAGCor) and made the revelation as part of an official Friday budget briefing to members of the House Committee on Appropriations.
Bondoc detailed that the predicted revenues figure for the whole of next year would represent an increase of about 1.8% when compared with 2018’s final tally of $1.29 billion and is to include approximately $28.6 million from the provision of related services such as the licensing of foreign-facing online casino operators.
Alongside serving as the nation’s gaming regulator, PAGCor was reportedly responsible for around 19,900 slots alongside a collection of some 2,080 gaming tables last year via its six Casino Filipino-branded properties and a chain of 33 satellite venues spread across the Philippines. Bondoc also explained that he expects to see the operator’s total expenses for 2020 swell by something like 16.7% year-on-year to hit slightly over $375.59 million while contributions to nation-building programs are to drop by nearly 3.5% to $947.27 million.
GGRAsia reported that PAGCor’s aggregated gaming operations income for the six months to the end of June had risen by roughly 9.3% year-on-year to stand at about $697.14 million while it managed to collect some $260.55 million in regulatory fees from licensed casinos.