State auditors have expressed concern over the P2.113 billion aggregate net losses incurred by a Manila casino being run by the Philippine Amusement and Gaming Corporation (Pagcor) as it chided the state-run gaming firm for non-disclosure of the financial condition of the gambling center.
Likewise, the Commission on Audit has noted serious lapses in Pagcor’s implementation of the school building project dubbed “Matuwid na Daan sa Silid Aralan,” noting that 457 classrooms financed through a P714.496 donation by the firm have not been completed.
The losses were listed as follows: 2014 – P352 million; 2015 – P458 million; 2016 – P386.6 million; 2017 – P413.5 million; and 2018 – P502.7 million. Reacting to the COA observation, the Pagcor management blamed the “disintegration of the income-generating satellites from CF-Pavilion, opening of competing integrated resorts and gradual reduction in the number of table games and slot machines” for the deficit.
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