In GCG’s latest corporate governance scorecard assessment
The Philippine Amusement and Gaming Corporation (PAGCOR) added a feather in its cap after it garnered an “excellent” rating in the 2020 Corporate Governance Scorecard (CGS) Assessment of the Governance Commission for Government-Owned or Controlled Corporations (GCG).
GCG released PAGCOR’s assessment rating on December 27, 2021.
In its scorecard validation report, GCG stated that “PAGCOR has clear and strong lines of communication that allow the agency to respond quickly and efficiently to customer requirements and public needs to ensure consistent quality service.”
It also cited that “PAGCOR’s Corporate Social Responsibility programs are primarily anchored on its mission as a partner of the Philippine government in nation-building.”
According to PAGCOR Chairman and CEO Andrea Domingo, the state-run gaming firm’s excellent rating in the 2020 CGS Assessment only shows the grit, commitment, professionalism and resilience of every PAGCOR employee who rose above the challenges in spite of the ongoing pandemic to ensure that the agency’s best practices are in place.
“We have been over two years into this pandemic, and similar to many industries, the gaming sector has not been spared. In spite of our revenue losses, among other limitations, we remained committed to our regulatory and nation-building mandate. Hence, we continued to touch the lives of less privileged Filipinos. Likewise, we ensured that the government gets its fair share of revenues from regulated gaming,” she explained.
The CGS Assessment, which is being implemented to all Government-Owned and Controlled Corporations (GOCCs) by the GCG is a “quantitatively-driven evaluation tool extracted from existing globally accepted standards and practices.” With particular focus on Stakeholder Relationships, Disclosure and Transparency, and Board Responsibilities, the CGS is designed to appraise each GOCC of its “performance and level of adherence to the best practices and international standards of corporate governance.” Assessments are based on disclosures and data uploaded in the GOCC’s website.