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Recently, Alejandro Tengco, the Chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), and Marius Corpus, the Chairperson of the Governance Commission for GOCCs (GCG), joined forces to sign PAGCOR's 2024 Performance Scorecard.
PAGCOR Chairman and CEO Alejandro Tengco (3rd from right, seated) and GCG Chairperson Atty. Marius Corpus (3rd from left, seated) are joined by key officials from
both agencies during their recent meeting about PAGCOR’s performance targets for 2024. I Photo: PAGCOR
This scorecard encapsulates the gaming agency's objectives and revenue forecasts for the year ahead. A notable highlight of the 2024 Performance Scorecard is PAGCOR's ambitious target for gross gaming revenues (GGR) in the Philippine gaming industry, set at Php336.38 billion.
This target represents a substantial increase of 17.91% or Php51.11 billion compared to the actual GGR recorded in 2023, which stood at Php285.27 billion.
Furthermore, PAGCOR's own casinos are expected to contribute Php81.27 billion in gaming revenues by the end of 2024, marking a 2.39% or Php1.9 billion rise from the actual revenues generated in 2023, which amounted to Php79.37 billion.
Among the other commitments outlined in the 2024 Performance Scorecard are PAGCOR's pledge to fulfill 100% of mandatory contributions to recipient agencies, achieve a net income of Php5.266 billion (excluding income tax), and maintain a 98% collection efficiency rate for license and regulatory fees from regulated gaming entities.
Additionally, the state gaming firm aims for a 90% utilization rate of disbursements budget, the retention of ISO 9001:2015 Certification through a successful Surveillance Audit, processing 100% of transactions within the prescribed period, achieving 100% of deliverables for 2024, and enhancing the competency baseline of the organization, among other objectives.
Through this collaborative effort between PAGCOR and GCG, the gaming industry in the Philippines aims to meet its targets and drive sustainable growth while ensuring regulatory compliance and efficient operations.
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