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P.A.G.C.O.R. FIRST HALF REVENUES DOWN
Tuesday August 26, 2014 : P.A.G.C.O.R. FIRST HALF REVENUES DOWN
Regulator and operator suffers the consequences of a licence fee cut.
Philippines gambling regulator and operator Philippine Amusement and Gaming Corporation (PAGCOR) has reported first half 2014 revenues down y-o-y 5.2 percent to pesos 19.96 billion ($445 million), attributing the decline in part to its action in temporarily reducing licence fees for Manila Entertainment City operators.
The reduction saw licence income decline 26 percent to pesos 4.47 billion, the regulatory division disclosed, revealing that high roller and junket gambling licence fees were cut from 15 percent of GGR to 5.2 percent, whilst those for slot machines and electronic gaming machines were chopped from 25 percent to 15 percent of GGR.
Regulatory officials explained that the fee reductions were designed to offset the impact of a decision by the Bureau of Internal Revenue to implement a 30 percent income tax on operators.
PAGCOR gaming revenues actually rose marginally by 1 percent to pesos 14.89 billion, but H1-2014 net income declined 6 percent to pesos 1.32 billion.
Contributions to the coffers of the Bureau of Treasury during the reporting period reached pesos 7.04 billion.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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