The Philippines Amusement and Gaming Corporation (PAGCOR) has garnered exceptional recognition in its annual Performance Evaluation System (PES) for 2022, achieving an impressive score of 99.46%. Administered by the Governance Commission for Government Owned and Controlled Corporations (GCG), this accolade signifies PAGCOR’s commitment to the highest standards of accountability and efficiency. Notably, this score is among PAGCOR’s highest ever, showcasing the organization’s dedication to excellence under the leadership of Chairman and CEO Alejandro H. Tengco.
Performance Evaluation System (PES) Overview:
The PES award is a testament to the success of Government Owned and Controlled Corporations (GOCCs), acknowledging their contributions to national development and their ability to meet stringent performance criteria. PAGCOR’s outstanding score reflects excellence in various categories, including Increased Contribution to National Government Coffers and Nation-Building Efforts, Increased Gross Gaming Revenue of the Industry, and Increased Revenue of PAGCOR.
Historical Performance:
Comparatively, PAGCOR’s journey to this remarkable achievement is highlighted by historical scores of 98.08% in 2001 and 91.38% in 2020. The significant improvement over the years, particularly under Chairman and CEO Alejandro H. Tengco’s leadership, underscores the organization’s continuous pursuit of excellence and its role as a key player in the gaming industry.
Recognition and Remarks:
During the prestigious GOCC Governance Awards Ceremony in Pasay City, PAGCOR President and COO Atty. Juanito L. Sañosa expressed pride in the organization’s accomplishments. He emphasized that while the award validates their hard work and dedication, it also serves as an inspiration to surpass previous achievements, all in the service of the nation.
Contribution to National Development:
Executive Secretary Lucas P. Bersamin highlighted the crucial role of Government Owned and Controlled Corporations in contributing to inclusive economic growth and development. In 2022, GOCCs, including PAGCOR, contributed Php48.68 billion (US$878 million) in dividends. These funds have been instrumental in supporting vital socio-civic projects, including infrastructure, health, and education.
Future Implications:
PAGCOR’s exceptional performance not only reinforces its position as a key player in the gaming industry but also underscores its pivotal role in national development. As the Bureau of Treasury records substantial dividends from GOCCs, it becomes evident that these corporations play a significant role in driving economic growth and supporting essential government initiatives.
PAGCOR’s stellar achievement in the 2022 Performance Evaluation System is a testament to its unwavering commitment to excellence and accountability. The organization’s consistent improvement over the years, coupled with its substantial contributions to national development, positions PAGCOR as a model for other Government Owned and Controlled Corporations. This recognition not only celebrates past accomplishments but also sets the stage for continued success and impact in the dynamic landscape of the gaming industry and the broader socio-economic development of the Philippines.