PAGCOR chairman backs strong GGR in 2023

Philippine Amusement and Gaming Corporation chairman and chief executive officer Alejandro H Tengco said that increased demand for leisure, travel, and entertainment will sustain the growth trajectory of the Philippine gaming industry in the coming years.

During the RGB Connect Gala Night at the Hilton Clark Sun Valley Resort in Pampanga over the weekend, Tengco mentioned that the lifting of travel and movement restrictions has fueled demand for dining, shopping, and other outdoor activities that were not possible during the pandemic.

“And so, one year into the term of president Ferdinand Marcos Jr., our gross gaming revenues have returned to near the levels of 2019, which was the year PAGCOR achieved its all-time high for Philippine GGR levels,” he said.

“Today, we expect the 2023 GGR to match, if not surpass, our 2019 record. Not bad considering that many of our traditional high rollers and junkets have not fully returned, but our domestic players and the influx of new tourists have filled the void,” he added.

Tengco said the future growth of the local gaming industry will also be supported by the opening of more integrated resorts, including those in Clark.

Source: Asia Gaming Brief