Philippines gaming regulator PAGCOR says it is now targeting industry-wide gross gaming revenues of Php244.84 billion (US$4.5 billion) in 2023, supported by faster than expected recovery following the re-opening of international borders last year.
The revised target, submitted to the Governance Commission for GOCCs (GCG) as part of PAGCOR’s 2023 Performance Scorecard, comes after Philippines-wide GGR of Php214.3 billion in 2022 comfortably exceeded the agency’s initial estimates.
The 2023 target is 33.1% higher than last year’s target and 14.2% higher than actual 2022 GGR.
“Since the lockdowns were eased in the country late last year and gaming venues reopened, customer confidence slowly returned and the attendance in our owned casinos slowly improved,” said PAGCOR Chairman and CEO, Alejandro H. Tengco. “Our licensed casinos likewise recorded a major revenue growth.”
