Philippine gaming regulator PAGCOR said Thursday it had signed a “2024 Performance Scorecard” alongside the Governance Commission for GOCCs (GCG), summarizing the agency’s official targets and revenue projections for the year.
The scorecard was inked by PAGCOR Chairman and CEO Alejandro Tengco and GCG Chairperson Atty. Marius Corpus.
It highlights, among other things, the gaming regulator’s projected gross gaming revenues of Php336.4 billion (US$6.0 billion) for the Philippine gaming industry in 2024, which if achieved would represent a 17.9% increase over actual 2023 GGR.
PAGCOR-run casinos are projected to generate Php81.3 billion (US$1.45 billion) in revenues from gaming operations by the end of the year, up 2.4% year-on-year, the regulator said.
PAGCOR added that it has committed to 100% payment of mandatory contributions to recipient agencies, attainment of Php5.27 billion (US$94 million) net income (less income tax), and 98% collection efficiency of license and regulatory fees from the agency’s regulated gaming entities.
It has also committed 90% disbursements budget utilization rate, retention of ISO 9001:2015 Certification, 100% of transactions processed within the prescribed period, 100% attainment of 2024 deliverables, and improvement on the competency baseline of the organization, among others.
Signing of the “2024 Performance Scorecard” comes less than a day after Tengco hailed the enduring growth of the Philippine gaming industry during a jovial speech delivered at Inside Asian Gaming’s latest Manila After Dark social networking event, which saw more than 200 industry guests gather on Wednesday night at Okada Manila’s Luna Lounge.
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