by Adam Dworak

PAGCOR Sets Ambitious Goals with 2024 Performance Scorecard

The Philippine Amusement and Gaming Corporation (PAGCOR), under the leadership of Chairman and CEO Alejandro Tengco, in collaboration with Governance Commission for GOCCs (GCG) Chairperson Atty.

Marius Corpus, has officially unveiled its 2024 Performance Scorecard. This strategic document outlines the agency’s targets and revenue forecasts for the upcoming year, signaling a robust outlook for the Philippine gaming sector.

Revenue Projections and Operational Targets

A standout feature of the 2024 Performance Scorecard is PAGCOR’s gross gaming revenue (GGR) forecast, which sets the bar at Php336.38 billion for the industry.

This ambitious target represents a significant 17.91% increase, amounting to Php51.11 billion, over the actual GGR of Php285.27 billion recorded in 2023. Such projections underscore PAGCOR’s optimistic view of the industry’s growth potential and its pivotal role in the nation’s economic landscape.

In addition to the industry-wide goals, PAGCOR-operated casinos are expected to contribute substantially with projected gaming operation revenues reaching Php81.27 billion by year-end. This figure is notably 2.39% or Php1.9 billion higher than the actual revenues of Php79.37 billion in 2023, highlighting the organization’s commitment to enhancing its operational efficiency and profitability.

Commitment to Excellence and Compliance

The Performance Scorecard also emphasizes PAGCOR’s dedication to upholding its obligations, with a pledge to ensure 100% payment of mandatory contributions to designated recipient agencies. The agency also aims to achieve a net income of Php5.266 billion (less income tax) and maintain a 98% collection efficiency rate for license and regulatory fees from regulated gaming entities.

Further, PAGCOR has set strategic operational benchmarks, including a 90% disbursements budget utilization rate and the retention of its ISO 9001:2015 Certification through a successful pass in the Surveillance Audit.

The agency also commits to processing 100% of transactions within prescribed periods and attaining 100% of its 2024 deliverables, reflecting its dedication to operational excellence and governance.

Our Comment on the Article

PAGCOR’s 2024 Performance Scorecard not only reflects the agency’s ambitious revenue and operational goals but also its commitment to regulatory compliance, organizational efficiency, and contribution to national development. By setting such comprehensive and challenging targets, PAGCOR is positioning itself and the Philippine gaming industry for significant growth and improvement.

This strategic approach not only benefits the gaming sector but also contributes to the broader economic and social objectives of the Philippines, showcasing the potential of regulated gaming as a key driver of national progress.

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