PAGCOR CEO meets with new employee union
Alejandro H. Tengco met with representatives of the PAGCOR Employees’ Association.
The Philippines.- Alejandro H. Tengco, chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), has met with the newly elected officials of the PAGCOR Employees’ Association at the agency’s corporate offices in Pasay City. Tengco said he recognises PAGCEA as the legitimate representative of PAGCOR workers and expressed willingness to work with the group to promote and protect the welfare of employees.
Speaking before industry stakeholders at the Light & Wonder iGaming Symposium at Newport World Resorts in Pasay City on Monday (September 8), Tengco continued to press for stricter regulation for online gaming instead of a ban. He argues that prohibition would encourage illegal operations and deprive the government of revenues. He said reforms implemented by PAGCOR, including reductions in license fee rates, have spurred growth in the electronic gaming sector.
Tengco noted that electronic games revenue last year accounted for nearly half of the industry’s gross gaming revenue of PHP372.33bn (US$6.57bn). For this year, the sector has already contributed PHP114.83bn (US$2.02bn), more than land-based operations.
