{"id":777021427,"date":"2024-12-11T08:53:23","date_gmt":"2024-12-11T11:53:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777021427"},"modified":"2026-04-22T03:21:25","modified_gmt":"2026-04-22T06:21:25","slug":"philippines-ggr-to-surpass-us6-04bn-pagcor-chairman-says","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippines-ggr-to-surpass-us6-04bn-pagcor-chairman-says","title":{"rendered":"Philippines GGR to surpass US$6.04bn, PAGCOR chairman says"},"content":{"rendered":"\n

Alejandro Tengco said Philippines GGR will surpass the target for the year.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Alejandro Tengco<\/strong>, the Philippine Amusement and Gaming Corporation (PAGCOR)’s chairman and CEO, expects the country’s gross gaming revenue (GGR) for 2024 to exceed PHP350bn (US$6.04bn), easily surpassing the target of PHP334bn (US$5.76bn)<\/a>. Last year\u2019s GGR was PHP285bn (US$4.91bn). <\/p>\n\n\n\n

In the third quarter of the year, GGR was\u00a0PHP94.61bn (US$1.61bn)<\/strong>. That\u2019s an increase of 37.5 per cent year-on-year and 6 per cent from\u00a0the second quarter of the year<\/a>. The largest growth was seen in the eGames sector, where revenue rose by 464.38 per cent year-over-year to PHP35.71bn.<\/p>\n\n\n\n

Private casino resorts, including those in Manila\u2019s Entertainment City, continue to be the biggest contributors. They generated PHP50.72bn, a decline of 2.3 per cent year-on-year but a rise of 2 per cent sequentially. Revenue from PAGCOR-operated casinos reached PHP3.64bn, down 26.3 per cent from a year earlier and 22.4 sequentially.<\/p>\n\n\n\n

See also:<\/strong> PAGCOR delivers health services and assistance to Ilocos Norte residents<\/a><\/p>\n\n\n\n

PAGCOR reaffirms regulatory oversight of Freeport Area of Bataan<\/h2>\n\n\n\n

In November, PAGCOR reaffirmed that\u00a0it has regulatory authority over the Freeport Area of Bataan.\u00a0In a statement released on November 19, the agency addressed remarks by\u00a0Joseph Lobo<\/strong>, a senior official in its Offshore Gaming Licensing Department, who said last week that the regulator had no jurisdiction over a suspected offshore gaming operator in Bataan.<\/p>\n\n\n\n

While Lobo said the Authority of the Freeport Area of Bataan (AFAB) was the governing authority, PAGCOR said it \u201caims to correct this statement\u201d. It said: \u201cRepublic Act No. 9728 grants the AFAB the power to oversee certain tourism-related activities within the Freeport Area of Bataan, including games, amusements, recreational and sports activities, subject to the approval and supervision of PAGCOR.<\/p>\n","protected":false},"excerpt":{"rendered":"

Alejandro Tengco said Philippines GGR will surpass the target for the year.<\/p>\n","protected":false},"author":176,"featured_media":777011926,"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's Chairman and CEO, Alejandro Tengco, projects the Philippines' 2024 GGR to exceed PHP350bn, surpassing the PHP334bn target, driven significantly by the eGames sector's 464.38% year-over-year growth. Concurrently, PAGCOR reaffirmed its regulatory authority over the Freeport Area of Bataan, clarifying jurisdictional oversight for gaming operations.","focusai_entities":"Alejandro Tengco, Philippine Amusement and Gaming Corporation (PAGCOR), Joseph Lobo, Authority of the Freeport Area of Bataan (AFAB)","focusai_location":"Philippines, Manila, Ilocos Norte, Freeport Area of Bataan, Bataan","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"GGR Growth Drivers?","query":"What specific policy initiatives or market dynamics are driving the exceptional 464.38% year-over-year growth in the eGames sector, and how sustainable is this trajectory?"},{"label":"Bataan Jurisdiction Impact?","query":"What are the specific implications of PAGCOR's reaffirmed regulatory authority over the Freeport Area of Bataan for existing and prospective offshore gaming operators (POGOs) regarding licensing, compliance, and operational frameworks?"}],"footnotes":""},"categories":[163,158,16333],"tags":[405],"class_list":["post-777021427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021427","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=777021427"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021427\/revisions"}],"predecessor-version":[{"id":777021439,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021427\/revisions\/777021439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777011926"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777021427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777021427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777021427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}