• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 11 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

PAGCOR to see new 40,000 square meter corporate office built in Manila’s Pasay City

Ben Blaschke by Ben Blaschke
Tue 17 Dec 2024 at 03:13
PAGCOR to see new 40,000 square meter corporate office built in Manila’s Pasay City

PAGCOR Chairman and CEO Alejandro Tengco and SMC Chairman Ramon S. Ang during this week’s signing ceremony

25
SHARES
634
VIEWS
Print Friendly, PDF & Email

Philippine gaming regulator PAGCOR will soon have built a new 40,000 square meter corporate office building in Pasay City – not far from Manila’s Ninoy Aquino International Airport and the Entertainment City precinct – under a 25-year lease deal signed with San Miguel Infrastructure (SMC) for its Nayong Pilipino property.

The deal will see SMC lease all 15-hectares of the PAGCOR land in question, with SMC to utilize 13 hectares for its own purposes but also develop the new PAGCOR office on a two-hectare portion of the property, according to information released Monday.

The office building will span 40,000 square meters with an additional 15,000 square meters for fit-out space, and is valued at Php2.45 billion (US$42 million). PAGCOR said the building will be fully financed and developed by SMC at no cost to the regulator.

“This project will be more than just a structure,” explained PAGCOR Chairman and CEO Alejandro Tengco. “It reflects PAGCOR’s commitment to creating a world-class work environment for its employees; a reflection of our identity, core values and aspirations.

“For many years, PAGCOR has operated across various rented locations, with our employees spread out and often working under less-than-ideal conditions.

“While we have always managed to deliver on our mandates, we’ve long dreamed of a day when we could bring everyone together under one roof – a place where we could foster a stronger sense of community, collaboration and shared purpose.”

PAGCOR will also receive additional revenues from renting out unused portions of the new corporate office once it is completed, Tengco added,

Development of the new corporate office will commence “promptly” according to SMC Chairman and CEO Ramon S. Ang following formal approval of the design.

“Our goal is to maximize the potential of this property for the public’s benefit,” said Ang. “The new PAGCOR headquarters will be a key part of this plan, providing a modern space to support their crucial role in funding government programs that uplift the lives of many Filipinos.”

The new lease agreement also includes 13 hectares of the property for SMC’s initiatives, which will mostly include infrastructure to complement airport requirements, the company said. SMC is lead of the consortium awarded earlier this year a 15-year contract to manage and revamp Manila’s Ninoy Aquino International Airport.

RelatedPosts

Philippines casino GGR up 630% quarter-on-quarter in 3Q20

PAGCOR: Manila’s Entertainment City casinos suffered combined 5.7% GGR decline in FY24

Tue 8 Apr 2025 at 13:55
Philippine tourist arrivals down 0.5% in 1Q25 on fewer visitors from South Korea, China

Philippine tourist arrivals down 0.5% in 1Q25 on fewer visitors from South Korea, China

Mon 7 Apr 2025 at 05:11
PhilWeb falls to US$10.5 million loss in FY24 on asset impairments

PhilWeb falls to US$10.5 million loss in FY24 on asset impairments

Fri 4 Apr 2025 at 03:51
Chris Newsome and 1xBet creating more opportunities for basketball players in Asia

Chris Newsome and 1xBet creating more opportunities for basketball players in Asia

Wed 2 Apr 2025 at 04:55
Load More
Tags: Alejandro TengcoofficePAGCORPasay CityPhilippinesSan Miguel Corporation
Share10Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

by Newsdesk
Wed 9 Apr 2025 at 06:16

Star Entertainment Group confirmed Monday it had entered into a binding term sheet with US casino operator Bally’s Corp to take control of the company as part of a US$300 million (US$180 million) deal. The term sheet, comprising a multi-tranche...

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

by Ben Blaschke
Wed 9 Apr 2025 at 05:59

A New York court has dismissed an appeal by China Construction America, Inc (CCA) against a Supreme Court ruling in October requiring it to pay US$1.6 billion to the original owner of Bahamas casino resort Baha Mar for committing “many acts...

Trade union warns massively increased casino pokies tax in NSW will cost jobs

Pub baron Bruce Mathieson agrees additional AU$100 million Star investment, reduces Bally’s contribution to AU$200 million

by Ben Blaschke
Wed 9 Apr 2025 at 05:40

Star Entertainment Group’s largest individual shareholder Investment Holdings Pty Ltd has entered into a binding term sheet with US casino operator Bally’s Corp that will see it subscribe for AU$100 million (US$60 million) in convertible bonds, reducing in the process...

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

by Newsdesk
Wed 9 Apr 2025 at 05:35

Genting Group’s US flagship Resorts World Las Vegas (RWLV) has announced the appointment of casino industry veteran Greg Shulman as Executive Vice President of International Marketing. Continuing the property’s recent management overhaul, RWLV said Shulman will lead its international casino...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English