Philippine Amusement and Gaming Corporation (PAGCOR) is the Philippines 1st 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-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 and Resources Corporation (PIRC) building on Imelda Avenue, Paranaque 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 and reorganized by Pres. Corazon C. Aquino with New PAGCOR as its short name to help raise funds for the government; 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 Pres. Gloria Macapagal-Arroyo in 2001. The firm operates 13 Casinos and several VIP slot clubs in major cities across the country. It also oversees and regulates more than 180 bingo parlors as well as e-games cafes across the country. The company employs more than 11,000 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 for the Entertainment City in the Manila Bay area, Paranaque in particular.
Philippine Amusement, beside Manila Grand Opera House
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 2, 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.