PAGCOR CEO receives new Regulatory Landmark Award at Asia Gaming Awards
Alejandro Tengco was recognised for his contributions to the growth of the Philippine gaming industry.
The Philippines.- Alejandro H. Tengco, chairman and chief executive officer of the Philippine Amusement and Gaming Corporation (PAGCOR) has received the Regulatory Landmark Award at this year’s Asia Gaming Awards. The newly added award recognised Tengco for his contributions to the growth of the Philippine gaming industry.
In his acceptance speech, Tengco said: “This award reaffirms our efforts in fostering a well-regulated gaming sector in the Philippines. It will serve as an inspiration for all of us to continue shaping an industry that is not only profitable but also ethical, sustainable, and beneficial to the communities we serve.”
Tengco was appointed as PAGCOR’s CEO in 2022. The agency’s revenue reached a record PHP112bn (US$1.92bn) in 2024, a 41 per cent increase from the previous year. Speaking at the ASEAN Gaming Summit in Manila, Tengco said that Philippine gross gaming revenue (GGR) reached PHP410bn (US$7.1bn) in 2024, a rise of 25 per cent in year-on-year terms.
While brick-and-mortar casinos contributed PHP201bn (US$3.46bn), nearly half of all GGR, the E-Games and E-Bingo sector generated PHP154.5bn (US$2.67bn), a 165 per cent year-on-year increase. The e-games sector hit its 2024 GGR goal of PHP100bn by September.
Tengco attributed this to new policies, like the reduction in fees for e-games from 35 per cent to 30 per cent. He said this helped bring unregistered operators into the regulated market and supported licensed operators, preventing closures and maintaining profits.
