The Philippine Amusement and Gaming Corporation (Pagcor) has ushered in a new era in its leadership, announcing the appointment of attorney Wilma Eisma as its new president and COO. This significant change in Pagcor’s upper echelons follows the resignation of Juanito Sansosa Jr. from the role in January.
In a statement on April 18, the Philippine gambling regulator detailed the official swearing-in of Eisma, which took place before the executive secretary of Pagcor, Lucas Bersamin. The ceremony was graced by the presence of Pagcor chair Alejandro Tengco, who witnessed the solemn oath-taking.
Wilma Eisma, a seasoned attorney with an impressive law degree from Ateneo de Manila University, brings a wealth of experience from both governmental and private sectors. Her career includes a notable tenure on the board of directors at the Development Bank of the Philippines. Prior to that, Eisma etched her name in history as the first female administrator and chair of the Subic Bay Metropolitan Authority. Adding to her diverse experience, she has also been in leadership roles at PMFTC Inc., the Philippine affiliate of Philip Morris International, as well as at the Department of Trade and Industry.
Chairman Tengco conveyed his delight at Eisma’s appointment, expressing confidence in her capacity as an asset to the corporation. “We know she will be a great asset and her vast experience in both the government and private sectors will surely be put to good use here,” Tengco reflected.
Eisma’s appointment comes at a critical junction for Pagcor as it gears up to privatize its casino operations, a strategic move set for execution by the end of 2025. This timeline is calibrated to address the concerns of stakeholders impacted by the privatization process. With casinos being spun off to a private entity, Pagcor is expected to have more leeway to channel investments into enlarging its reach and upgrading existing ventures.
The transition towards a privatization began in earnest in September of the previous year, when Pagcor made its intentions clear about transitioning into a “purely regulatory” organization. This move has been under serious contemplation since March 2023. It signifies a fundamental shift from being a direct operator to overseeing and regulating the industry, which is in line with trends seen internationally where regulators often do not directly run gambling enterprises.
In the midst of this transformative phase, February witnessed Pagcor addressing what it termed “disinformation” about the privatization. Chairman Tengco specifically refuted a claim made in a social media post asserting that Pagcor would expend a sizeable sum of approximately ₱500 million on refurbishing its Casino Filipino branch in Angeles City prior to the privatization. Tengco categorically denied these allegations, clarifying that renovation costs would in fact be covered by the property’s lessor, ensuring that not a single cent of Pagcor’s funds would be utilized for this purpose.
Pagcor further demonstrated its progressive strategy by recently announcing a rate reduction for operators effective April 1. This decision, aimed at lowering rates by an average of five percent, is strategic in Pagcor’s bid to lure illegal operators into the legal fold by applying for licenses in the Philippines.
The outlook for Pagcor under Eisma’s stewardship is cautiously optimistic as the organization seeks to balance the dual goals of regulatory enforcement and attracting more legal operators to contribute to the Philippine economy. The organization remains committed to upholding the integrity of the gaming industry while ensuring that it continues to be a significant source of revenue, ultimately benefiting the country’s social programs.
