Alejandro Tengco, Chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), confirmed on Thursday that he and all board members had voluntarily submitted their resignations last week in response to President Marcos' call for a reorganization of the leadership in state-controlled corporations.
In a public statement, Tengco expressed that this move was to show respect and support for the presidential authority, "We were appointed under the trust of the president, and thus are willing to accept any decisions made by him," he said.
The board members who resigned alongside include President and Chief Operating Officer Wilma Eisma, and directors Jose Maria Ortega, Francis Democrito Concordia, and Gilbert Cesar Remulla.
This wave of resignations comes as President Marcos pushes for a comprehensive review and restructuring of the leadership in Government-Owned and Controlled Corporations (GOCCs) to enhance operational efficiency, streamline structures, and improve the quality of public services. Analysts believe this move sends a clear signal of the presidential office's intent to reform the national governance framework and strengthen accountability mechanisms.
As of now, the presidential office has not officially announced whether it will accept the resignations, nor has it provided details on successors or the restructuring process.
As the national regulatory body for gambling, PAGCOR plays a crucial role in increasing fiscal revenues and combating illegal gambling. This change in leadership may impact future gambling policies and the regulatory landscape of the industry.
