The Philippine Amusement and Gaming Corporation has released its financial results for the nine months to the end of September showing that it achieved a 0.32% increase year-on-year in net income to $65.91 million.

The results from the state-owned Philippines gaming regulator and operator additionally illustrated an almost 17% boost year-on-year in income from gaming operations to $786.32 million while it contributed a similarly improved $412.81 million via taxes and contributions during the nine-month period.

The Philippine Amusement and Gaming Corporation has been attempting to locate new sources of income after deciding earlier this year not to renew licenses for companies that target locals with its recent results also illustrating a 3.12 % rise year-on-year in total income net of gaming taxes and contributions to $395.83 million despite its total expenses going up by 3.89% to hit $329.63 million.

August saw the Philippine Amusement and Gaming Corporation confirm that it intends to issue online gaming licenses to operators targeting overseas punters with the Manila-based entity explaining earlier this month that it intends to start awarding such permits early in November after receiving interest from 76 potential licensees.