Philippines President Ferdinand Marcos Overhauls PAGCOR

August 24, 2022 Philippines Events & Announcements Industry Updates

Philippines President Ferdinand “Bongbong” Marcos Jr. has overhauled PAGCOR, the country’s gaming regulator-operator that provides critical revenue for the country’s government.

Marcos succeeded Rodrigo Duterte at the end of June as the Philippines leader. Less than two months later, Marcos has swapped out the governance of the Philippine Amusement and Gaming Corporation.

With PAGCOR typically accounting for more tax revenue than any other government agency not named the Bureau of Internal Revenue — and the gaming agency considered a nation-building enterprise — it is customary for incoming presidents to appoint their own officials to spearhead the agency. In a notice posted to PAGCOR’s website today, the agency announced that Marcos recently swore in several new executives and board members.

Alejandro Tengco has succeeded Andrea Domingo as PAGCOR chair and chief executive, while Juanito Sañosa Jr. has replaced Alfredo Lim as PAGCOR president and chief operating officer. Marcos also reshuffled the PAGCOR board to include directors Gilbert Cesar Remulla, Francis Democrito Concordia, and Jose Maria Ortega.

PAGCOR reported gross gaming revenue of roughly PHP300 billion (US$5.35 billion) during Domingo’s leadership, which ran during Duterte’s six-year term from July 2016 through June 2022.

Marcos Father Formed PAGCOR
PAGCOR was formed in 1977 through a presidential decree issued by Bongbong’s father, the late Ferdinand Marcos Sr. The elder Marcos, who died in 1989 in exile, was a dictator who was accused of countless human rights violations. There were also allegations of stealing billions of dollars from the country he claimed to have loved.

On his death bed, Marcos Sr. offered to return 90% of the fortune he stole from the Philippines in exchange for being buried next to his mother back in the Philippines. President Corazon Aquino rejected the plea, and Marcos Sr. was subsequently buried in Hawaii.