PAGCOR CEO signs 2024 performance scorecard

PAGCOR CEO signs 2024 performance scorecard

Chairman and CEO Alejandro Tengco has set a gross gaming revenue target of PHP336.38bn.

The Philippines.- Philippine Amusement and Gaming Corporation (PAGCOR) chairman and CEO Alejandro Tengco and governance commission for GOCCs (GCG) chairperson Marius Corpus have signed PAGCOR’s 2024 performance scorecard. The document summarises the regulator’s strategic objectives and revenue projections for the year.

The scorecard sets a target of PHP336.38bn in gross gaming revenues (GGR) for the Philippine gaming industry in 2024. This reflects an increase of 17.91 per cent or PHP51.11bn compared to the GGR recorded in 2023 (PHP285bn). PAGCOR-run casinos are expected to contribute PHP81.27bn, a 2.39 per cent increase from last year’s actual revenues of PHP79.37bn.

The 2024 Performance Scorecard emphasises PAGCOR’s commitment to financial transparency and operational efficiency. This includes ensuring the full payment of mandatory contributions to recipient agencies. It aims to achieve net income of PHP5.266bn (after income tax) and maintain a 98 per cent collection efficiency rate for licence and regulatory fees from regulated gaming entities.

PAGCOR aims for a 90 per cent disbursement budget utilisation rate, retention of ISO 9001:2015 Certification through surveillance audits, processing 100 per cent of transactions within prescribed timeframes and achieving 100 per cent of deliverables set for 2024. 

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