President-elect Rodrigo Duterte announced on Tuesday that he had selected Andrea Domingo to head the Philippine Amusement and Gaming Corporation (PAGCOR).
Domingo, a member of Duterte’s election campaign team, replaces Cristino Naguiat Jr as the head of the Philippines gambling regulating body. Outgoing president Benigno Aquino appointed Naguiat Jr.
Domingo aided Duterte’s election campaign in organizing volunteer groups and is no political novice. She’s served as congresswoman from Pampanga during the mid-1990’s and during former president Glorio Arroyo’s administration, she served as CEO of the Philippine Reclamation Authority (a branch of the Public Works Department). Domingo will step into the position just as two more integrated resorts are slated to open in the Entertainment City Manila zone in addition to the controversial Manilla property of Bloomberry Resorts outside of Entertainment City, according to CalvinAyre.
Another issue PAGCOR is dealing with are the effects of the theft of approximately $81 million from the Bangladesh central bank where unidentified hackers funneled money to casinos and gambling agents in the Philippines through a Manila branch of the Rizal Commercial Banking Corp (RCBC). Prompted by the well-publicized scandal, the government has tightened its anti-money laundering laws, which means PAGCOR will be monitoring its casino licenses much closer.
PAGCOR operates 13 casinos in the Philippines including, Casino Filipino Angeles and Casino Filipino Tagaytay and reported 2015 revenue of just under $1b, and should exceed that this year. Earlier this month PAGCOR reported its net income for the first three months of 2016 increased by 11% year-on-year to $22.1 million.