Premium Leisure Corp., the listed gaming company of tycoon Henry Sy, said Thursday net income surged 123 percent in the first half from a year ago, boosted by sustained growth of revenues from City of Dreams Manila and the overall improvement in the Philippine gaming market.
PLC said in a filing with the Philippine Stock Exchange first-half income after tax hit P1.027 billion, up from P461 million in the same period last year, as revenues went up 58 percent to P2.5 billion from P1.59 billion.
Gaming share revenue stood at P1.5 billion, which was more than double the P704 million recorded a year ago.
PLC, formerly Sinophil Corp., has an operating agreement with Melco Crown that entitles the company to a share in gaming revenues in City of Dreams Manila, an integrated resort and gaming facility in Parañaque City.
Revenues from equipment lease rentals, commission and distribution income through its 50.1-percent owned subsidiary Pacific Online Systems Corp. reached P1.05 billion in January to June.