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PAGCOR breaks records in annual performance evaluation

The Philippine Amusement and Gaming Corporation (PAGCOR) received formal recognition from the Governance Commission for GOCCs (GCG) for achieving a score of 99.46 percent in its annual Performance Evaluation System (PES) for 2022.

The score is one of the highest in the history of PAGCOR, according to the press release shared on Monday.

The GCG is the central policy-making and regulatory body, which has been tasked to institutionalize transparency, accountability, financial viability, and responsiveness in corporate performance by monitoring and evaluating GOCCs’ performance.

The Philippines gaming regulator mentions that the highest score was achieved in the first year under the leadership of Chairman and CEO Alejandro H. Tengco, who President Ferdinand Marcos Jr. appointed in August 2022.

PAGCOR’s score in the 2021 PES was 98.08 percent, while in 2020 it was 91.38 percent.

The award for 2022 was received by PAGCOR President and COO Atty. Juanito L. Sañosa during the inaugural GOCC Governance Awards Ceremony on November 20, 2023, at the PICC Complex in Pasay City.

Atty. Sañosa said the award elevated PAGCOR to the ranks of the best-performing GOCCs in the country.

“This is truly another proud moment for PAGCOR.   While this award serves as a validation of our efforts and hard work, it also inspires us to continuously exceed our past accomplishments – all in the service of our country,” he said.

PAGCOR breaks records in annual performance evaluation

The PES award is a recognition of the unwavering dedication to the highest standards of accountability and efficiency among government-owned and controlled corporations.

In the GCG report, PAGCOR garnered perfect scores in the following categories: Increased Contribution to National Government Coffers and Nation-Building Efforts; Increased Gross Gaming Revenue of the Industry;   and Increased Revenue of PAGCOR;among others.

In his keynote speech during the awards ceremony, Executive Secretary Lucas P. Bersamin said GOOCs contributed PHP 48.68 billion ($876 million) in dividends in 2022, funding some of the most vital government socio-civic projects such as infrastructure, health, education, and others.

“It is beyond question that GOCCs are significant tools in adjuring inclusive economic growth and development for 2022. The Bureau of Treasury recorded PHP 48.68 billion ($876 million) dividends coming from different GOCCs that are covered under Republic Act 10149,” Bersamin noted.

In a statement, GCG Commissioner Atty. Brian Keith F. Hosaka encouraged all GOCCs to work closely together to make the GOCC sector a prime driver in delivering effective and efficient progress for Filipinos.

Aside from PAGCOR, twelve other GOCCs received awards for achieving the highest Corporate Governance Scorecard (CGS) ratings in 2022 while three bagged the CGS Hall of Fame.

AGBrief Editorial
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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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