Gross gaming revenues in the Philippines to hit P244.84 billion in 2023, up 14 percent from P214.33 billion last year.
Tengco says Pagcor's licensed casinos recorded a major revenue growth since the lockdowns were eased in late last year and gaming venues reopened. Alejandro H. Tengco, Pagcor chairman and chief executive officer, said the regulator expects gross gaming revenues to hit P244.84 billion in 2023, an increase of 33 percent from P183.91 billion target last year.
“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. Our licensed casinos likewise recorded a major revenue growth,” Tengco said. Meanwhile, Tengco vowed “100 percent payment of mandatory contributions to recipient agencies; attainment of P1.022 billion net income ; and 98 percent collection efficiency of license and regulatory fees from Pagcor’s regulated gaming entities.”