
PAGCOR Chairman and CEO Alejandro Tengco (right) and GCG Chairperson Atty. Marius Corpus sign PAGCOR’s 2024 Performance Scorecard during their performance target meeting.
Alejandro Tengco, the Chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), along with Atty. Marius Corpus, the Chairperson of the Governance Commission for GOCCs (GCG), recently put pen to paper on PAGCOR’s 2024 Performance Scorecard, encapsulating the gaming agency’s objectives and revenue forecasts for the upcoming year.
A standout feature of the 2024 Performance Scorecard is PAGCOR’s anticipated gross gaming revenues (GGR) reaching Php336.38 billion for the Philippine gaming industry. This target marks a 17.91% increase, equivalent to Php51.11 billion more than the actual GGR of Php285.27 billion recorded in 2023.
In parallel, PAGCOR-operated casinos are foreseen to yield Php81.27 billion in revenues from gaming activities by year-end. This projection represents a 2.39% rise, amounting to Php1.9 billion more than the Php79.37 billion in actual casino revenues reported in 2023.
Also outlined in the 2024 Performance Scorecard are PAGCOR’s commitments, including the full payment of mandatory contributions to recipient agencies, achieving a net income of Php5.266 billion (excluding income tax), and maintaining a 98% collection efficiency rate for license and regulatory fees from the agency’s regulated gaming entities.
Furthermore, the state gaming firm pledges a 90% utilization rate for disbursements budget, the retention of ISO 9001:2015 Certification through a successful Surveillance Audit, ensuring that 100% of transactions are processed within the prescribed timeframe, accomplishing 100% of 2024 deliverables, and enhancing the organizational competency baseline, among other objectives.
Gross gaming revenue have been on the uptrend since the country opened and came out of the pandemic. There is a high chance that there’s still room for more growth ahead and will be beneficial to the country, operators, and players as well.