PAGCOR Directors Submit Courtesy Resignations Amid Government Restructuring

The Philippine Amusement and Gaming Corporation (PAGCOR) announced that its board members have been asked to tender courtesy resignations amid government restructuring.

The President Seeks to Restructure the Bureaucracy

According to the PAGCOR’s official announcement, its chairman and chief executive officer, Alejandro H. Tengco, as well as all members of its board of directors have tendered their courtesy resignations.

This comes amid the government’s broader effort to reorganize the bureaucracy and will give the President “a free hand” to do so. As part of his effort, the Palace called on all officials of government-owned or controlled corporations (GOCCs) to submit such resignations.

Earlier, the Governance Commission for GOCCs explained that this broad restructuring seeks to align agencies with government priorities and the public’s best interest.

Tengco commented on the matter, saying that his team is prepared to accept the government’s decision, regardless of what it may be.

We serve at the pleasure of the President. And we will accept whatever the Chief Executive’s decision will be.

Alejandro H. Tengco, chair & CEO, PAGOR

The PAGCOR added that, in addition to Tengco, other directors have likewise voluntarily stepped down. These included the following:

• Wilma Eisma – PAGCOR president and chief operating officer
• Jose Maria Ortega – director
• Francis Democrito Concordia – director
• Gilbert Cesar Remulla – director

Tengco Is a Respected Asian Gaming Leader

Regardless of what the future of the PAGCOR and chair Tengco would be, it should be mentioned that the latter played an important role in shaping the current gaming ecosystem in the Philippines.

Earlier this year, Tengco was provided with a special honorary award at Asia Gaming Brief’s Asia Gaming Awards. The ceremony, which took place in March, celebrated Tengco’s achievements, applauded his key role in the transformation of the Philippine gaming industry and hailed him as one of Asia’s gaming leaders.

Tengco was appointed as the PAGCOR’s CEO in 2022 and has since been a major part of the industry.

The Philippine Market Continues to Grow

In other news, the PAGCOR recently published information about the local gaming industry’s performance in 2024, outlining record-breaking gross gaming revenue for the period. According to the agency, the Philippines’ GGR for 2024 stood at $6.5 million, marking a staggering YOY increase of 30.52%.