PAGCOR Taps New Revenue Streams
Alejandro H. Tengco, Chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), projects a larger revenue share of P37.5 billion for the government in the coming year.
The bigger revenue stream of PAGCOR arises from Tengco’s innovative approach to handling the agency, ranging from frowning on wasteful expenditures and raising the bar for gaming, leading to more income. I Photo: PAGCOR
This optimistic outlook lies on the back of the planned offering of online games, improvements in table games, and new revenue-sharing modes with their partners.
Tengco said that a year since President Ferdinand R. Marcos Jr. took office, there has been a huge pick-up in the revenues of the gaming agency with the return of normalcy that financial simulations see PAGCOR hitting a net operating income of P61.5 billion.
He said that socio-civic projects that cater to the populace will also be in place as the agency dovetails its program with the President’s reach to help the citizenry especially those in the peripheries of the economy.
Aside from school buildings that form part of the Corporate Social Responsibility program of PAGCOR, Tengco eyes the set up of e-Learning Centers, Community Wellness Centers, and the launch of new “flagship projects.”
Tengco said the new projects next January “will prioritize poor and remote communities in Visayas and Mindanao” to show the heart of the administration’s push to reach many disadvantaged and challenged individuals.
The bigger revenue stream of PAGCOR arises from Tengco’s innovative approach to handling the agency, ranging from frowning on wasteful expenditures and raising the bar for gaming, leading to more income.
In an address before gaming enthusiasts in Clark City two weeks ago, which is now being tapped as a new destination center, Tengco cited the agency’s push for the modernization of gaming tables and the creation of an online gaming portal to take advantage of the lucrative area for growth.
The hike in demand for leisure, entertainment, and travel is seen to sustain the growth trajectory of PAGCOR and enable it to help in the government’s push to help the disadvantaged.
Tengco believes that, to be truly part of nation-building, PAGCOR workers should be “duty bound to serve our country” and consider themselves as Filipinos who help lay the “foundation of a better nation.”