{"id":777008314,"date":"2023-08-17T07:47:26","date_gmt":"2023-08-17T10:47:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777008314"},"modified":"2026-04-22T18:57:04","modified_gmt":"2026-04-22T21:57:04","slug":"philippine-ggr-to-double-in-five-years","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippine-ggr-to-double-in-five-years","title":{"rendered":"Philippine GGR to double in five years"},"content":{"rendered":"\n

PAGCOR’s CEO said gross gaming revenue is projected to reach over PHP450bn (US$8.31m) by 2028.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Alejandro Tengco<\/strong>, chairman and chief executive of the Philippine Amusement and Gaming Corp (PAGCOR), has projected that GGR in the country could rise from its 2022 baseline of approximately PHP214bn (US$3.77bn)\u00a0to PHP450bn (US$8.31m) by 2028<\/strong>. Speaking to Reuters, he forecast increased tourism, particularly from affluent Chinese gamblers.<\/p>\n\n\n\n

Tengco noted that six new casino establishments\u00a0<\/strong>collectively valued at around US$3bn are in the works, which would help address competitive pressures from neighbouring countries such as Japan and potentially Thailand.<\/p>\n\n\n\n

Tengco said he expected the country’s gaming sector to grow by at least 10 per cent every year. GGR reached a record PHP256bn in 2019 and was predicted to grow further until the Covid-19 pandemic halted things. In 2022, GGR reached PHP214bn.<\/p>\n\n\n\n

Gross gaming revenue<\/a>\u00a0in the second quarter of this year was PHP56.61bn (US$1bn). That\u2019s an increase of 23.4 per cent year-on-year but down 4.5 per cent\u00a0in quarter-on-quarter terms<\/a>, from PHP59.26bn in Q1.<\/p>\n\n\n\n

Private casino resorts<\/strong>, including those located in Manila\u2019s Entertainment City, produced 76.8 per cent of all GGR (PHP43.47bn). This was up by 17.5 per cent year-on-year and down 4.3 per cent when compared to the previous quarter.<\/p>\n\n\n\n

PAGCOR plans privatisation of its 45 casinos by 2025<\/h2>\n\n\n\n

PAGCOR<\/strong> has disclosed plans to initiate the privatisation<\/a> of 45 casinos. Speaking during budget deliberations at the House of Representatives, Alejandro Tengco<\/strong> said the process would take place by the third quarter of 2025.<\/p>\n\n\n\n

Tengco said PAGCOR aimed to increase the value of the assets ahead of privatisation. The announcement was a response to questions raised in the session after the lawmaker Edwin Olivarez<\/strong> raised concerns regarding PAGCOR\u2019s dual role as both regulator and operator. He pointed out that foreign operators earn more than PAGCOR-operated casinos.<\/p>\n","protected":false},"excerpt":{"rendered":"

PAGCOR’s CEO said gross gaming revenue is projected to reach over PHP450bn (US$8.31m) by 2028.<\/p>\n","protected":false},"author":176,"featured_media":19804,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR projects the Philippines' GGR to reach PHP450bn by 2028, driven by increased tourism and US$3bn in new casino developments. Concurrently, PAGCOR plans to privatize its 45 operational casinos by Q3 2025 to address governance concerns regarding its dual role as both regulator and operator, aiming to enhance asset value prior to divestment.","focusai_entities":"Philippine Amusement and Gaming Corp (PAGCOR), Alejandro Tengco, Edwin Olivarez","focusai_location":"Philippines, Manila, Japan, Thailand","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"PAGCOR Regulatory Shift","query":"What specific legislative or policy amendments are anticipated to delineate PAGCOR's purely regulatory functions post-divestment of its operational assets by Q3 2025?"},{"label":"New IR Market Impact","query":"How will the projected US$3bn investment in six new casino establishments influence the market share and GGR contribution of existing integrated resorts within Manila's Entertainment City?"}],"footnotes":""},"categories":[157,158,16333],"tags":[23907,405],"class_list":["post-777008314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-land-based-casino","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777008314"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008314\/revisions"}],"predecessor-version":[{"id":777008349,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008314\/revisions\/777008349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19804"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777008314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}