PAGCOR CEO Tengco, board directors tender courtesy resignations

Philippine Amusement and Gaming Corporation (PAGCOR) chairman and CEO Alejandro Tengco on Thursday said he and the board of directors had submitted their courtesy resignations.

“I had filed my courtesy resignation together with the entire PAGCOR Board,” Tengco told GMA News Online.

“We all serve at the pleasure of the President,” he said.

Along with Tengco, those who voluntarily stepped down were PAGCOR president and chief operating officer Wilma Eisma and directors Jose Maria Ortega, Francis Democrito Concordia and Gilbert Cesar Remulla, according to the state-run gaming firm.

PAGCOR said the development “came even before the Palace called on all officials of government-owned or controlled corporations to submit their courtesy resignations.”

It said that “all the members of the agency’s Board of Directors tendered their courtesy resignations last week to give the President a free hand in reorganizing the bureaucracy.”

President Ferdinand Marcos Jr. had earlier lamented the results of the May 2025 midterm polls, which, according to him, showed that the people were "tired of politics and they are disappointed with the government."

Early this month, PAGCOR said it had remitted P12.67 billion in dividends to the Treasury, which represents 75% of its net income for 2024.

Last year, the state gaming firm posted a net income of P16.76 billion, up 146% from P6.81 billion in 2023. — VBL, GMA Integrated News