The Philippine Amusement and Gaming Corporation (PAGCOR) and the Governance Commission for GOCCs (GCG) formalized the target gross gaming revenues (GGR) of Php336.38 billion (€5.5 billion) for the country’s gaming industry in 2024.   The two agencies signed PAGCOR’s 2024 Performance Scorecard.    This agreement, inked by PAGCOR Chairman and CEO Alejandro Tengco and GCG Chairperson Atty. Marius Corpus, outlines ambitious targets and commitments for the state gaming agency.   The target amount signifies a 17.91 percent increase, amounting to Php51.11 billion (€835 million) higher than the actual GGR recorded in 2023, which stood at Php285.27 billion (€4.7 billion).  

Casino Filipinos as main contributor   

PAGCOR’s casinos are anticipated to contribute significantly to this growth, with projected revenues from gaming operations expected to reach Php81.27 billion (€1.3 billion) by the year’s end.    This projection represents a 2.39% increase compared to the Php79.37 billion (€1.2 billion) in actual PAGCOR casino revenues recorded in 2023.  

Financial and operational benchmarks  

Furthermore, the 2024 Performance Scorecard encapsulates PAGCOR’s commitment to various financial and operational benchmarks.    These include the pledge for 100% payment of mandatory contributions to recipient agencies, achieving a net income of Php5.266 billion (€86 million) after income tax.   PAGCOR also targets to maintain a 98% collection efficiency of license and regulatory fees from regulated gaming entities.  

PAGCOR eyes 90% budget utilization rate  

Other commitments outlined in the scorecard include achieving a 90% disbursement budget utilization rate, retaining ISO 9001:2015 certification through a successful Surveillance Audit, processing 100% of transactions within the prescribed period, attaining 100% of 2024 deliverables, and enhancing the competency baseline of the organization.   With this comprehensive performance framework in place, PAGCOR said it aims to not only drive growth within the gaming industry but also ensure operational excellence and accountability in fulfilling its mandates and commitments.