Caloocan City Bishop Deogracias Iñiguez Jr. and Novaliches Bishop Antonio Tobias are positive about the recent "paradigm shift" at Pagcor , which diverted its formerly strong focus on casino gaming to providing entertainment, which comprise 75 percent of its total operations.
Gaming is downsized to a mere 25 percent, said Pagcor chairman and chief executive officer Efraim Genuino. He said this move is in line with the worldwide trend in the industry led by Macau and Nevada.
However, Pagcor’s new vision could become a reality only if the its franchise which is due to expire in 2008 is extended, Genuino said.
Pagcor’s blueprint shows that job generation will be the service sector’s contribution to the national revenue with up to $10 billion in investments over a 10-year period.
Iñiquez, an advocate of decent livelihood for the people, has endorsed the extension of Pagcor’s lifespan.
The bill is now pending in the Senate committee on tourism, chaired by Sen. Richard Gordon. Supporting Gordon here are committee members Juan Ponce Enrile, Ralph Recto and Lito Lapid.
The House version of the bill, which calls for giving Pagcor 25 more years to operate, has been passed. Iñiguez reiterated that jobs and other sources of livelihood are what matter most in the Manila Bay project. — PNA features