Premium Leisure Corp. notches 57.4% net income in Q3

Premium Leisure Corp. notches 57.4% net income in Q3

Through its subsidiary Pacific Online Systems Corporation (POSC), gaming investment firm Premium Leisure Corp (PLC) netted Php1.68 billion revenue from equipment lease rentals, commission, and distribution as of September 30, 2016.

Premium Leisure Corp. notches 57.4% net income in Q3For the nine months to September 30, PLC reported that its net income leapfrogged by 94 percent to Php1.53 billion (US$29.51 million) in 2017 from Php787.1 million ($15.18 million) in the prior period.

Its total year-to-date revenue is up 54 percent to PHP3.84 billion ($74.1 million) compared to the same period last year.

PLC said the revenue included an estimated PHP2.16 billion ($41.68 billion) from the firm’s share of gaming revenues at the City of Dreams Manila casino, up nearly 95 percent from a year earlier.

City of Dreams Manila, which is managed by Melco Resorts and Entertainment (Philippines) Corp, is a partnership between casino operator Melco Resorts and Entertainment Ltd and Premium Leisure. The Company has an agreement with MCE Leisure Philippines Corporation (MELCO) that entitles the Company to a share in gaming revenues in CODM.

PLC’s total assets amounted to Php17.94 billion as of September 30, Php1.03 billion or 6% higher than its total assets as of December 31, 2016.