Puerto Rico Casino Posts Big Growth This Financial Year

Puerto Rico’s Government Gaming Commission announced that Puerto Rico’s casinos’ revenues exceeded $355 million. This is a big success. Reported earnings grew 38.89% over the last fiscal year. The amount of money collected in the previous year was larger than $256 million.

Big news for Puerto Rico’s economy as a whole. It increased 14.4 percent last year, but doubled this year. 슬롯머신

Miguel Vega, president of the Puerto Rico Hotel and Tourism Association (PRHTA) Casino Committee, explained that this significant growth could be driven by many factors, including stabilization of the industry. The COVID pandemic has seen many businesses slowly start to crumble, but it finally seems to be heading in the right direction.

“The reason why earnings have improved is because casinos are now stabilized, and there are not as many restrictions,” Vega added. We’ve had a more consistent year operating, of course, and we’ve had employment issues, but we’re operating on a regular schedule, so we’ve been able to recover our lost base.”

Puerto Rico is not the only country that has recorded growth. The U.S. gambling industry posted its best quarter so far, raking in more than $15 billion in revenue. The amount previously registered was $14 billion, which means revenue has increased 2% this year, as AP said.

As far as the calendar year is concerned, not the fiscal year, the Puerto Rican gaming industry remained negative. This occurred due to the period from May to September, with the biggest drop being 3.04% compared to last year’s results. Casinos increased 15.14% in October from last year, up $5.251.240 from 2021.

Idalyn Ortiz Rivera, director of communications for the Casino Commission, said, “In fact, in October, there was a significant increase in relation to the previous months. In other words, in May and June, things started to slow down, but in October, they started to recover again.”

Commenting further on the increase, she added, “This year may increase on an average basis, but it may have the opposite effect.”

The chairman of the Casino Commission is confident that the industry will finish next fiscal year, similar to this fiscal year. “We are in positive territory, and we certainly expect to finish this fiscal year and next fiscal year positively.”

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