Efraim C. Genuino, Philippine Amusement and Gaming Corp. (PAGCOR) chairman and CEO, has not stopped dreaming. And for now, his dreams are turning into realities. Although from time to time he is linked to what the First Gentleman is allegedly doing, he has generally managed to stay out of the media hot seat. Cool, but intensely focused, he acts to pursue his dreams.
Lifting PAGCOR to higher level
Chairman Genuino’s dream of lifting PAGCOR to a higher level of corporate image and profitability is slowly but surely coming to reality. PAGCOR now is not merely a gaming company but is seen as an entity providing patrons with high quality entertainment and leisure programs.
The PAGCOR production of WANDERS, dubbed as “a must see show for the whole family,” is an example of this shift in direction. Watch the show and you will realize that one does not need to go to Las Vegas to watch a high class musical show.
In terms of revenue generation and profitability, PAGCOR is one of the biggest contributors to government finances, next only to the tax collecting agencies and authorities. In a recent interview, Genuino said that PAGCOR earned P28 billion in 2008 and is well within target of increasing this level despite the slowdown in global economy.
Philippines as the regional center for gaming and entertainment
This Genuino dream started four years ago with the holding of the 1st Asia’s Gaming & Entertainment plus Leisure Expo. Now on its fourth year, this event has become a premier gaming and leisure tourism event in Asia, bringing together industry stakeholders in gaming equipment, technology and services to discuss global cooperation and investment opportunities.
The event for this year was highlighted by the expo exhibit of the latest gaming equipment and technology and the Gaming, Tourism & Investments Congress. The congress featured presentations by CEOs of companies engaged in gaming and entertainment from different parts of the globe on the theme, “Global Opportunities toward Industry Growth.”
The Global Leaders Forum, which followed the Congress, provided the participants with insights from industry leaders and stakeholders on what they see as the direction of the gaming and entertainment business as the world economy recovers from the financial crisis.
Surely the annual trek of these industry leaders to the Philippines to participate in Asia’s Gaming and Entertainment plus Leisure Expo and Congress has placed our country in the map for regional gaming and entertainment business – a fulfilled dream of the PAGCOR chairman.
Entertainment City
The PAGCOR Entertainment City is perhaps the most ambitious dream so far of Efraim’s dreams. New investments amounting to at least $3 billion in the Las Vegas-type city are expected to start flowing in before the end of this year. These new investments will bring more job opportunities as construction of resorts, hotels and casinos go full swing.
Genuino said that investments in PAGCOR City have shifted from purely gaming and amusement to integrated tourism resorts and attractions that the entire family can enjoy. He was quoted as saying that, “Only three percent of the entire investments are geared towards gaming. Majority are tourist attractions.”
The Genting group of Malaysia, the Azure Group of Japan, and Henry Sy’s SM Investment Corp. were the first announced investors of Ephraim’s dream city.
Other dreams
It is quite clear that Efraim has other dreams. Just recently, his supporters organized the biggest rally against drug abuse ever seen in the country. Many of his friends were expecting to see banners unfurling in front of the large throng of marchers to announce Genuino’s candidacy. But his sensitivity to right timing prevailed, and Efraim did not make a dramatic announcement.
Will he eventually do it? Will Efraim take the risk of putting on the block all his achievements these past years for public scrutiny and judgment? Or, will he, this time just continue with this particular dream while lounging in an easy chair as he enjoys his retirement?
Will Chairman Genuino take the plunge? Shall we ask FG or GMA?
FilOil Flying V Pre-season Invitational
Reminding all collegiate basketball fans. The FilOil Flying V Pre-season MVP Invitational Cup will kick off the new collegiate basketball season on Saturday, April 18, 2009, 1 p.m., at the FilOil Flying V Arena (formerly San Juan Arena).
This project of the Villavicencio group of companies headed by Chito Villavicencio and his sportsman son, Raffy, has been successful over the years as it features the rivalries of yesteryears like the San Beda-Ateneo, La Salle versus Letran, when these schools belonged to the same league, the NCAA. Other basketball fanatics view the tournament as the test of skills between the teams of UAAP and the NCAA.
During the opening on Saturday, the FilOil Flying V companies, sponsors of the recently concluded 2008 Philippine Collegiate Championship games, will award the scholarship grants to the winners in the amount of P500,000 (for the 2008 National Collegiate Champion De La Salle Green Archers), P200,000 (for Runner-up Ateneo Blue Eagles), P100,000 (for third placer Letran Knights) and P50,000 (for fourth placer San Beda Red Lions).
See you at the games and get a glimpse of the first competitive meeting between De La Salle Green Archers, 2008 National Collegiate champion, and the Ateneo Blue Eagles, 2008 UAAP Champions.
Should you wish to share any insights, write me at Link Edge, 25th Floor, 139 Corporate Center, Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at reydgamboa@yahoo.com. For a compilation of previous articles, visit www.BizlinksPhilippines.net.