Philippine Amusement and Gaming Corporation

Philippine Amusement and Gaming Corporation

Type	Public
Industry	Casino
Headquarters	Philippines
Employees	11,000+
Website	www.pagcor.ph

Philippine Amusement and Gaming Corporation (PAGCOR) is the Philippines third largest contributor of revenue after the Tax and Customs Authority. It is a government owned and controlled corporation first established in by Presidential Decree 1067-A^[1]and entered itself in a contract with Philippine Casino Operators Corporation (PCOC) in operating the floating casino in the Manila Bay in 1977. However, gutted by fire in 1979, for which reason, PAGCOR shifted its operations to land-based casinos and entered into another contract with PCOC for the management of a casino at the Provident International Resources Corporation (PIRC) building on Imelda Avenue, Parañaque City, Metro Manila, Philippines.^[2]. Then under the Presidential Decree 1869 in 1983, it was mandated as the sole government corporation to conduct and establish gaming pools and casinos^[3]. In 1986 it was reestablished by H.E. then Pres. Corazon Aquino's government with New PAGCOR as its short name to help raise the government funds; appointing Norberto Quisumbing as its first Chairman and later on the former Development Bank of the Philippines chair Alicia LL. Reyes as its Chair and CEO. She was succeeded by Ephraim Genuino under the appointment by H.E. Pres. Gloria Macapagal-Arroyo in 2001. The firm operates 13 Casinos and several VIP slot clubs in major cities across the country. It also sees and regulate more than 180 bingo parlors as well as e-games cafes across the country. The company employs more than 11000 employees. In June, 2007 PAGCOR had its most significant piece of legislation with the passage of Republic Act 9487 granting the state-run gaming firm another 25 years to regulate and operate games of chance, to issue licenses, and to enter into joint venture, management, or investment agreements with private entities.

PAGCOR is under the Office of the President of the Philippines.^[4] As of December, 31, 2009, the Pagcor Board is composed of Chairman/CEO - Efraim C. Genuino, President/COO - Rafael Butch Francisco, Directors - Imelda Dimaporo, Philip G. Lo, Manuel C. Roxas and Susana Vargas (ex-officio) and Corporate Secretary - Carlos R. Bautista. On July 02, 2010, Cristino L. Naguiat, Jr. was sworn in as its new Chairman. On July 19, 2010, Jorge Sarmiento was named as its new President & COO along with other new members to the Board, namely: Enriquito M. Nuguid, Eugene D. Manalastas and Jose S. Tanjuatco.

References

1. ^ http://ocampolaw.co-ph.com/laws/presidential-decree-1067-a
2. ^ http://www.supremecourt.gov.ph/jurisprudence/2003/mar2003/..%5C..%5C2000%5Cmar2000%5C132929.html
3. ^ http://ocampolaw.co-ph.com/laws/index.php?s=new+pagcor&submit=Search
4. ^ House of Representatives of the Philippines

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