PAGCOR is the Philippine state-owned gaming operator and regulator who, after nine months of operations in 2015, has seen a nice increase in earnings as compared to 2014 totals. PAGCOR has earned a total of PHP35.7 billion which is $760.5 million in US dollars and meets an 18.7% increase compared to the same time frame last year.
Gaming operation totals were PHP32.7 billion which is just over a 45% increase from last year. Operating expenses were down just over 5%, with only PHP10.4 billion spent instead of PHP11 billion last year. PAGCOR is required to remit a minimum of 50% of their gross earnings annually to the government which ended up being PHP22.11 billion in contributions. This was an increase of 32% when compared to 2014.
From the beginning of 2015, analysts believed that the casino market of the Philippines would be one of the fastest growing in the world. The issues in Macau have helped the market to grow considerably, as the Philippines have been able to lure gamblers from China to the area.