PAGCOR expecting 2024 GGR to grow 18% y-o-y

The Philippine Amusement and Gaming Corporation is anticipating gross gaming revenues in 2024 to reach PHP336.38bn ($5.9bn).

This target represents a significant increase of 17.9 per cent, equivalent to PHP51.11bn, ($906.3m) compared to the actual GGR recorded in 2023, which stood at PHP285.27bn ($5bn).

Specifically focusing on PAGCOR-run casinos, the projections indicate a robust performance, with anticipated revenues from gaming operations expected to reach PHP81.27bn ($1.4bn) by the end of the year.

This forecast marks a 2.39 per cent growth, amounting to PHP1.9bn ($33.6m) more than the actual PAGCOR casino revenues recorded in 2023, which amounted to PHP79.37bn ($1.4bn).

During the 6th ASEAN Gaming Summit last week, Alejandro H. Tengco, chairman and CEO of PAGCOR, commented that privatisation and regulatory reforms should position the Philippines as the second largest gaming jurisdiction in the Asian Pacific sphere, second only to Macau.

Source: Asia Gaming Brief