Alejandro Tengco, Chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), and Atty. Marius Corpus, Chairperson of the Governance Commission for GOCCs (GCG), recently signed PAGCOR’s 2024 Performance Scorecard. This document clearly outlines the gaming agency’s objectives and revenue projections for the upcoming year.
Notably, the 2024 Performance Scorecard sets a gross gaming revenue (GGR) target of Php336.38 billion for the Philippine gaming industry. This target reflects a 17.91% increase, which equals Php51.11 billion more than the actual Php285.27 billion GGR recorded in 2023.
At the same time, PAGCOR-operated casinos will generate Php81.27 billion in gaming revenues by the end of 2024. This figure marks a 2.39% rise, or Php1.9 billion more than the Php79.37 billion reported in 2023.
Additionally, PAGCOR commits to fully paying mandatory contributions to recipient agencies. The agency also aims to achieve a net income of Php5.266 billion (excluding income tax). Moreover, PAGCOR plans to maintain a 98% collection efficiency rate for license and regulatory fees from its regulated gaming entities.
Furthermore, the state gaming firm pledges to utilize 90% of its disbursement budget. It will also retain its ISO 9001:2015 Certification through a successful Surveillance Audit. PAGCOR promises to process 100% of transactions within the prescribed timeframe and complete all 2024 deliverables. The agency also focuses on enhancing organizational competency as part of its key goals.
Gross gaming revenues have steadily risen since the Philippines reopened after the pandemic. Therefore, the agency expects further growth ahead. This progress will benefit the country, gaming operators, and players alike.
