PAGCOR
Encyclopedia
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-Aand 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.. Then under the Presidential Decree 1869 in 1983, it was mandated as the sole government corporation to conduct and establish gaming pools and casinos. 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. 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.
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
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-Aand entered itself in a contract with Philippine Casino Operators Corporation (PCOC) in operating the floating casino in the Manila Bay
Manila Bay
Manila Bay is a natural harbor which serves the Port of Manila , in the Philippines.The bay is considered to be one of the best natural harbors in Southeast Asia and one of the finest in the world...
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
Parañaque City
The City of Parañaque , or simply Parañaque , is one of the cities and municipalities that make up Metro Manila in the Philippines....
, Metro Manila
Metro Manila
Metropolitan Manila , the National Capital Region , or simply Metro Manila, is the metropolitan region encompassing the City of Manila and its surrounding areas in the Philippines...
, Philippines.. Then under the Presidential Decree 1869 in 1983, it was mandated as the sole government corporation to conduct and establish gaming pools and casinos. In 1986 it was reestablished by H.E. then Pres. Corazon Aquino
Corazon Aquino
Maria Corazon Sumulong Cojuangco-Aquino was the 11th President of the Philippines and the first woman to hold that office in Philippine history. She is best remembered for leading the 1986 People Power Revolution, which toppled Ferdinand Marcos and restored democracy in the Philippines...
'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. 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.