PAGCOR targets €5 billion in GGR this year
Figure is a major increase on last year but whether it can be achieved remains in doubt due to Coronavirus.
Philippines.- PAGCOR Chief, Andrea Domingo, has said the regulator has been targeted with generating PHP290 billion (€5 billion) in gross gaming revenues (GGR) for the nation in 2020 despite the ongoing Coronavirus crisis and concerns over POGOs.
In February, PAGCOR indicated that GGR from casinos, online gaming sites and traditional bingo hit PHP248.47 billion (€4.34 billion) so this year’s target is a significant increase on last year.
According to Domingo, PAGCOR itself could contribute around PHP95 billion (€1.65 billion) of the target, which would be 18 per cent increase on the PHP80 billion (€1.39 billion) achieved in 2019.
Domingo explained the 2020 target had been set by the country’s Governance Commission for Government-owned or -Controlled Corporations. She also said the full impact of the Coronavirus crisis on the country’s gambling sector had yet to be seen.
“We haven’t factored in the effects of Covid-19 in this year’s target yet, so we’ll have to see,” Domingo told local press. “But, so far, it [business] looks good,” she added.
