Daily Asia Gaming eBrief: PAGCOR aims for $5.9 bln in GGR for 2024

Monday 25th of March 2024

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Good Morning. The secret is to aim high. In 2024, the Philippine Amusement and Gaming Corporation (PAGCOR) is projecting gross gaming revenues (GGR) to hit $5.9 billion. This represents a notable increase of 17.9 percent compared to the actual GGR of $5 billion recorded in 2023. Meanwhile, Macau gaming operators MGM and Wynn have announced the resumption of dividends for the first time since the pandemic.

What you need to know

The Philippine Amusement and Gaming Corporation is anticipating gross gaming revenues in 2024 to reach some $5.9 billion.
JP Morgan says that MGM and Wynn's dividend resumption signals sustained cash returns with profit growth from demand recovery.
The Star CEO Robbie Cooke resigns amidst ongoing second inquiry over suitability for Sydney casino license.

On the radar

Thai Minister supports legalizing casinos.
IGT implements changes to board and executive team.
SJM Resorts inaugurates Palazzo Versace hotel.
Phu Quoc pilot casino with $259.1 mln in accumulated losses.
Suspects in alleged $301M casino junket financing scam indicted.

AGB Intelligence

PHILIPPINES

Philippines GGR to hit $5.9 bln in 2024

In 2024, the Philippine Amusement and Gaming Corporation (PAGCOR) anticipates gross gaming revenues (GGR) to reach $5.9 billion, marking a notable 17.9% increase of $906.3 million compared to the 2023 recorded GGR of $5 billion. Notably, PAGCOR-run casinos are forecasted to make a significant contribution, with projected gaming revenues expected to reach $1.4 billion by year-end.

Corporate Spotlight

Basketball player Kai Sotto is the new 1xBet ambassador in Asia

Kai Sotto, Basketball player, 1xBet ambassador, Asia

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