The Philippine Amusement and Gaming Corporation (PAGCOR) has strengthened its strategy to reinforce the credibility of the country's gaming industry following the Philippines' removal from the Financial Action Task Force (FATF) grey list, while also being recognized as one of the five largest financial contributors among state-owned enterprises. The two announcements, made between 10 and 12 July 2026, highlight the regulator's growing role in both regulatory compliance and public finance.
PAGCOR, chaired by Chairman and CEO Alejandro H. Tengco, with President and Chief Operating Officer Wilma Eisma, announced enhanced Probity Checks, a comprehensive integrity assessment system administered by its Anti-Money Laundering Supervision and Enforcement Department (PASED) and Investigation and Verification Department (IVD). The strengthened framework applies to new gaming licenses, license renewals, changes in shareholders, ultimate beneficial owners, boards of directors, senior executives and cases involving adverse reports or compliance concerns. Licenses are required to report any corporate ownership or governance changes within 15 calendar days.
The system features three levels of due diligence, ranging from standard documentary reviews to enhanced investigations for high-risk cases, covering criminal records, financial capacity, beneficial ownership, international sanctions lists and AML/CFT compliance. The initiative supports FATF Recommendation 28, which requires jurisdictions to prevent criminal organizations from owning or controlling casinos and gaming businesses. PAGCOR remains the country's gaming regulator under the leadership of Alejandro H. Tengco, while the Philippines' financial intelligence framework is coordinated with the Anti-Money Laundering Council (AMLC), chaired by Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr.
Wilma Eisma
Two days earlier, during the GOCC 8 July 2026 celebration at Malacañang Palace, President Ferdinand Marcos Jr. presented a Certificate of Recognition to Alejandro H. Tengco after PAGCOR was ranked among the Top Five financial contributors of the Philippines' Government-Owned and Controlled Corporations (GOCCs). The corporation remitted PHP 5.67 billion (approximately US$92 million) in 2025 dividends, equivalent to 50% of its net income, in compliance with Republic Act No. 7656 (Dividends Law). According to the Department of Finance, headed by Secretary Frederick D. Go, the country's 50 GOCCs declared PHP 147.15 billion in dividends for 2026, with PHP 140 billion already remitted to the National Government as of 8 July.
Elisa de Anda Madrazo
Following the Philippines' exit from the FATF grey list on 21 February 2025, under the FATF presidency of Elisa de Anda Madrazo, PAGCOR is simultaneously raising regulatory compliance standards, strengthening the integrity of the gaming industry and reinforcing its position as one of the Philippine government's largest revenue-generating state corporations.
