Pagcor clarification

Kindly allow us to make a clarification to your readers about the statements made by Sen. Ernesto Maceda in his Search for Truth column for The Philippine STAR today (Jan. 25) regarding the Philippine Amusement and Gaming Corporation’s (PAGCOR) contract with Parana Korea Corporation.

We wish to stress that what PAGCOR issued to Parana was not a casino license but a contract authorizing the Korean group to conduct junket operations. Parana had a previous application for the same type of gaming operations which was already approved by the past PAGCOR management, but which did not materialize under circumstances that the incumbent management is not privy to.

Our management deemed it fair to evaluate, and subsequently honor, Parana’s previously approved application based on the business merits presented by the group to PAGCOR. Only foreign players they bring in will be allowed to play in their junket operations. No locals or walk-in players will be allowed to play. The contract terms and provisions were also renegotiated to make them advantageous to PAGCOR and the government.

We have also been informed by Parana that Ms. Maria Teresa Luciano, whom Senator Maceda quoted in his column as the source of his story, had some previous dealings with Parana. We were also made to understand that such business dealings or transactions, for some reason, either went sour or did not push through. The present PAGCOR management has no involvement in said transactions and we hope that Parana and Ms. Luciano will be able to settle their business differences amongst themselves.

May we also stress that Mr. Patrick Puno did not decline nor become part of the PAGCOR entourage that visited Korea because it is not part of his functions as former AVP for the Logistics and General Services Department (LGSD). He resigned because he wanted to concentrate on their family’s business.

Thank you for giving us the opportunity to clarify this issue to your readers.