PAGCOR


PAGCOR

Philippine Amusement and Gaming Corporation (PAGCOR) is the Philippines second largest contributor of revenue after the Tax Authority. It is a government owned and controlled corporation first established in by Presidential Decree 1067-A [http://ocampolaw.co-ph.com/laws/presidential-decree-1067-a] 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, Manila, Philippines. [http://www.supremecourt.gov.ph/jurisprudence/2003/mar2003/..%5C..%5C2000%5Cmar2000%5C132929.html] . Then under the Presidential Decree 1869 in 1983, it was mandated as the sole government corporation to conduct and establish gaming pools and casinos [http://ocampolaw.co-ph.com/laws/index.php?s=new+pagcor&submit=Search] . In 1986 it was reestablished by Pres. Corazon Aquino's government as the New PAGCOR to help raise the government funds that has been discovered as devastated after martial law; appointing the former Development Bank of the Philippines chair Alicia LL. Reyes as its first CEO under the new estabishment which succeeded by Ephraim Genuino under the appointment by Pres. Arroyo in 2001. Then in 2007, it changed its name back into PAGCOR under its corporate memo. PAGCOR was created to regulate all games of chance in the country, to help raise funds for the government after the martial law and to sustain tourism industry and the development of sports in the country. The firm operates 13 Casinos, 8 VIP clubs and 3 slot machine arcades in major cities across the country. It also sees and regulate more than 180 bingo parlors across the country. The company employs more than 11000 employees.

The Company is under the Office of the President of the Republic of the Philippines. [ [http://www.congress.gov.ph/committees/commnews/index.php?pg=commnews_det&newsid=199 House of Representatives of the Philippines ] ]

The Pagcor Board is composed of
Chairman/CEO - Efraim C. Genuino
President/COO - Rafael Butch Francisco
Directors - Danilo A. Gozo, Philip G. Lo, Manual C. Roxas
Corporate Secretary - Carlos R. Bautista

References


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