Philippine Amusement and Gaming Corporation

PAGCOR recognizes licensed casinos' contributions to nation-building

Fri | January 12, 2018 | 5:40 PM

The Philippine Amusement and Gaming Corporation (PAGCOR) kicked-off 2018 on a high note when it paid tribute to its licensees’ contributions to nation-building.

PAGCOR recognizes licensed casino's contributions to nation-building
PAGCOR recognizes licensed casino's contributions to nation-building
President Rodrigo Duterte (5th from left) is joined by PAGCOR's top management led by Chairman and CEO Andrea Domingo (front row, 6th from left) and President and COO Alfredo Lim (3rd from left) in a photo opportunity during the agency's celebratory cocktails and dinner for its licensees. Also in photo are Executive Secretary Salvador Medialdea (4th from left), House Committee on Games and Amusement Chairperson Gustavo Tambunting (5th from right), Presidential Spokesperson Atty. Harry Roque (2nd from right) and Social Security System Commissioner Anita Quitain (7th from right).

In a celebratory cocktails and dinner at the Manila Hotel, PAGCOR gathered all its casino licensees from the Entertainment City Manila, Clark Special Economic Zone, Poro Point, Rizal and Cebu.

PAGCOR recognizes licensed casino's contributions to nation-building
President Rodrigo Duterte recognizes the local gaming industry’s contributions to the country’s tourism industry and economy.

The event, which was held on January 11, 2018, was graced by no less than President Rodrigo Roa Duterte.

In his speech, the President commended PAGCOR and the local gaming industry for their contributions to the economy. “I can give you the assurance that we welcome you. I thank you for the income that we are earning from the gaming industry,” he said.

PAGCOR recognizes licensed casino's contributions to nation-building
PAGCOR Chairman and CEO Andrea Domingo underscores PAGCOR’s upward revenue trend through the years.

The President added that the local gaming industry players may expand and do business peacefully but they must “avoid graft and corruption whether you are the giver or the receiver.”

During the event, PAGCOR Chairman and CEO Andrea Domingo also underscored the agency’s upward revenue trend. “Although the biggest chunk in the agency’s revenues still comes from PAGCOR-operated casinos, the licensed casinos also contributed significantly,” she said.

“In 2017, PAGCOR posted close to P60 billion in gross revenues. Of this amount, the biggest portion (P22.44 billion) came from PAGCOR-operated casinos. It was followed by the P19.27 billion income from licensed casinos’ fees; P9.45 billion from traditional bingo and e-bingo licensees; P5.50 billion from PAGCOR’s share from other gaming licensees such as e-games, poker, junket operations, among others and P3.14 billion from offshore gaming operations,” she explained.

Apart from the huge revenues from licensed casinos, the PAGCOR chief said that all integrated resort casino licensees are required to put up a Cultural Heritage Foundation to fund Corporate Social Responsibility (CSR) programs related to education infrastructure, health facilities, environmental preservation and restoration of cultural heritage. Two percent of the licensees’ gross gaming revenues from non-junket tables automatically go to these Foundations.

Domingo likewise cited that major projects were already implemented by the Foundations of Entertainment City licensees.

“Because of their CSR commitments, several multi-storey school buildings and computer laboratories were built in far-flung public schools. Two drug rehabilitation centers – one in Davao and one in Camp Bagong Diwa in Taguig – are being constructed. Also a public hospital in Tacloban and two multi-storey barracks for the Philippine Military Academy cadets were built – just to name a few,” Domingo said.

Meanwhile, casino licensees in other locations such as Clark have also set aside funds for their own foundations and CSR efforts.

PAGCOR President and COO Alfredo Lim, who also graced the event, said that as the country’s gaming regulator, it is the goal of PAGCOR to see all gaming industry players increase their level of competitiveness and tap a larger regional client base. “But as we ride on the tide of growth and enjoy the opportunities of a larger market, let us ensure that the whole nation reaps the benefits,” he added.

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