State-run Philippine Amusement and Gaming Corp. (Pagcor) expects stronger revenues this year as the local gaming industry continues to gain momentum following the easing of travel restrictions. Alejandro H. Tengco, Pagcor chairman and chief executive officer, said the regulator expects gross gaming revenues (GGR) to hit P244.84 billion in 2023, an increase of 33 percent from P183.91 billion target last year. Tengco added that the 2023 GGR goal is also 14 percent higher than the P214.33 billion actual last year. The industry’s increased GGR targets is fueled by the robust performance in 2022, which has been largely attributed to the opening of Philippine borders to local and foreign tourists, the Pagcor chief said. “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. Because of this, Pagcor, for its part, has targeted P68.49 billion revenues from its gaming operations for 2023. “This amount is 36.6 percent increase from our P50.13 billion target in 2022 and 24.41 percent higher than our 2022 income from gaming,” Tengco said. Meanwhile, Tengco vowed “100 percent payment of mandatory contributions to recipient agencies; attainment of P1.022 billion net income (less income tax); and 98 percent collection efficiency of license and regulatory fees from Pagcor’s regulated gaming entities.” Pagcor also endeavors to “retain its ISO:9001:2015 certification; 100 percent attainment of 2023 deliverables; 100 percent completion of transactions within the prescribed period; revision of the agency’s Board-approved Competency Framework; and establishment of competency baseline for employees.” To achieve these, Tengco shared that Pagcor, under the current management, will endeavor to improve its regulatory functions and business operations. “We will ensure that our plans and programs for 2023 will be generally beneficial to our industries, putting foremost the interests of responsible gaming and of nation-building,” he said.