HEARD IT THROUGH THE GRIPEVINE: OUR NEW ABNORMAL
When Pagcor (Philippine Amusement and Gaming Corporation) Chairman and CEO Alejandro Tengco accepted the appointment, I had no doubt that Al knew that his taking on the job of heading the corporation tasked to regulate, operate, authorize and license gaming in the country wasn’t going to be a case of traipsing through a rose garden. Yes, since it’s inception, Pagcor has been a proven moneymaker/”rose garden” for the government’s coffers; but it’s also a government corporation that will always have it’s share of thorns and controversy.
So with his job cut out for him, it’s good to see that Chairman Al Tengco and Pagcor have not let these “ghosts from the past” overshadow the good work and long term objectives that continue to make Pagcor a valuable government asset. The Pagcore values have a solid foundation, and remain the driving force of their activities.
AT THE MARCH 21 opening of the ASEAN Gaming Summit, Pagcor Chairman and CEO Alejandro Tengco is welcomed by Luis Pereira, managing director of Asia Gaming Brief, organizers of the Summit.
On paper, these core values are integrity, accountability, social responsibility, customer service, excellence, and teamwork. The objective is to make the Philippines a top gaming and entertainment destination for the ASEAN region. Pagcor’s income partially funds many national organizations and programs, among which are the Early Childhood Care and Development Act, and the Sports Incentives and Benefits Program. Five percent of its winnings goes directly to the BIR as franchise tax, while 50 percent of the 95 percent balance goes to the National Treasury as the government’s mandated share. It remits at least 50 percent of its annual net earnings to the national government as cash dividends; and major corporate social responsibility projects are also funded by Pagcor on a continuous basis.
In the middle of February, Pagcor inaugurated the Milaor, Camarines Sur Multi-Purpose Evacuation Center, and this is the most recent of several evacuation centers that the company has funded and built across several locations throughout the country. Given the fragile situation that so many rural communities face during the typhoon season, or when disasters strike; these sturdy, evacuation centers serve as a wellspring of hope and comfort for the residents of said beleaguered communities.
On March 6, at Camp Aguinaldo, Pagcor turned over ₱4.1 million in cash incentives to the 82 members of the Philippine Inter-Agency Humanitarian Contingent that returned from Turkey. This response team flew to northern Turkey on Feb. 8 to help the victims of the devastating earthquake, where they served 1,022 patients over two weeks, while helping recover bodies, and assess the structural integrity of buildings left standing. And on March 17, Pagcor reached out to the family of the four children murdered by their stepfather, offering financial aid to the victims’ OFW mother.
During the recently held ASEAN Gaming Summit, Chairman and CEO Tengco tendered a speech that touched on how plans were afoot to divest the nine Casino Filipino branches and 32 satellite casinos that are located in major cities. Pagcor is open to talks about privatization, and placing a premium on ensuring the welfare of the employees who will be affected by such a management decision.
The Pagcor Multi-Purpose Evacuation Center at Milaor, Camarines Sur, which was inaugurated in February of this year.
This move, while it may still take some time, will lay to rest all the critical talk about the conflict of interest that lie in the mandate that has Pagcor regulating and licensing, while also operating gaming establishments. More focus can then be placed on its regulatory role, and thus, expand the agency’s reach and contribution to nation-building.
Tengco also mentioned how the company aims to capitalize on the booming industry of online gaming, “… to better regulate the fast-developing and volatile online gaming industry, we aim to revitalize our information technology systems. It is but right for us to level-up on our technological capabilities to be better in our role as gaming regulators.”
To strengthen its regulatory functions, it has forged partnerships with various government agencies, such as the Department of Justice, the Philippine National Police, and the National Bureau of Investigation – to revise and update the Mutual Cooperation Agreement, which combats illegal gambling, and ensures lawful compliance.
Pagcor is steadfast in its mission of rationalizing it’s structure, remaining dedicated to its mission vision, and ensuring it plays a vital role in national recovery.