CLAIMS TO FAME
- Former Vice Mayor of Malolos, Bulacan
- Long-time friend of Philippines President Marcos
Never one to shy away from the limelight, PAGCOR Chairman and CEO Alejandro Tengco has made his intentions clear since being appointed to head the Philippine gaming regulator in August 2022.
Top of the pile is privatization of PAGCOR’s long-controversial casino operations. While many before him have toyed with the idea, Tengco is the first to take decisive action on the matter, announcing plans to ensure such privatization is complete by the time his six-year tenure is complete.
Ironically, the privatization will see the departure of the head of PAGCOR from the Power 50 list, given his position here is purely as an operator, not a regulator.
That’s not an easy task, but he is headed in the right direction by way of a comprehensive rejuvenation plan for PAGCOR’s 41 Casino Filipino properties aimed at enhancing their value for sale. This includes everything from simple touches like new carpeting and paint to more complicated work like replacing some 3,341 older style slot machines with new ones. A first batch of 1,968 new machines arrived in September.
Less welcome from PAGCOR’s point of view was the declaration by President Ferdinand Marcos Jr in July that he was banning the Philippines’ offshore gaming industry, most commonly known as POGO, at the end of the year. Tengco had been a vocal proponent of cleaning up POGOs rather than banning them altogether, largely due to the revenue opportunity they presented his agency.
On the plus side, PAGCOR’s revenue is booming anyway, bolstered ironically by the incredible growth of the domestic online gaming, or eGames, segment. New integrated resort openings planned for the next few years should see the land-based segment achieve similar growth.
For the full list of 2024 Asian Gaming Power 50 winners, click here.
