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ECONOMICS

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Aquino administration should be alarmed by recent

survey, says Casiple
Nestor Corrales
5:32 PM | Tuesday, January 21st, 2014

MANILA, PhilippinesThe Aquino administration should be alarmed by the Pulse

Asia survey saying most Filipinos claimed the quality of life has worsened in the past
years, a political analyst said Tuesday.
Professor Ramon Casiple said nothing has changed in the past three years under the
administration of President Benigno Aquino III.
Based on a Pulse Asia survey, 55 percent or majority of Filipinos have said the
quality of life has deteriorated in the past twelve months while 36 percent claimed
the national situation remained unchanged.
Casiple said one factor is the current economic situation of the country and its
impact to the people.
One biggest factor I think is our economic situation. Although the government
claims we have an economic growth, it is not felt by the people. The problem is how
to translate (economic growth) it. This is alarming because the impression of the
people is that nothing happened, Casiple said over Radyo INQUIRER 990AM.
The President should change or remove our traditional political system based on
pork barrel, political dynasty, and to level our political system to give everyone the
chance to be in public service, he said.
Communications Secretary Herminio Coloma Jr., however said, the Aquino
government is actively taking steps to improve the lives of Filipinos by creating
more economic opportunities through allocating more than P1.4 trillion for social
and economic services in this years national budget.
Coloma said in a press briefing in Tuesday that the government started taking steps
to address the concerns raised in the latest survey of Pulse Asia.
The 2014 national budget allocated funds for social and economic services in a bid
to improve the overall quality of life of the Filipino, Coloma said.

Aquino administration should be alarmed by recent

survey, says Casiple
The 2014 national budget allocated funds for social and economic services
in a bid to improve the overall quality of life of the Filipino, Coloma said. Though
has been said yet there are some Fipilinos complaining and keep saying that their
state of living has not changed in the past three years of Aquinos Administration.
According to Casiple economic situation is one of the biggest factor why
were still lying on something nothing. Although the government claims there is an
economic growth, it is not felt by its people and that is not a good sign of being an
economically successful country. The President should manage to change this kind
of traditional political system based on pork barrel. Time is running fast but Filipinos
are struggling to outrun it.
Generations are changing but since then nothings happening. No new. Every
leader did not possess what his peoples needed to create a struggle-free living.
Wondering when this hopeless situation ends with a kind of leader know nothing but
feed himself.

Pagcor closing down Airport Casino

MANILA, Philippines - Airport Casino Filipino, located near the Ninoy Aquino International Airport,
will shut down in the third quarter of the year, weighed down by steep losses following new competition
from Solaire Resort & Casino.
Cristino Naguiat Jr., chairman of the Philippine Amusement and Gaming Corp., said the agency
would no longer renew the license of Airport Casino Filipino, which is set to expire in July.
The casino, which is located across Ninoy Aquino International Airport (NAIA) in Paraaque City,
has been incurring huge losses as half of its P18-million monthly revenues automatically goes to the
Bureau of Treasury, representing the governments share in gaming income.

Naguiat said the gaming industry remains bright even for those who are looking for a job, noting
that the state gaming agency processes about 50 applications for retirement or early retirement every
month.

Mark Angelo L. Laguna

ECONOMICS
BBF 3-6N

Pagcor closing down Airport Casino

Michelle V. Remo
1:24 AM | Wednesday, February 26th, 2014

The Philippine Amusement and Gaming Corp. (Pagcor) is set to close down Airport
Casino Filipino, one of the biggest casinos it operates, because it has started to
incur losses.
Pagcor chair and chief executive officer Cristino Naguiat Jr. said the regulatory
agency would be closing down the casino this July in view of projections that it may
have difficulty improving its financial standing given its location.
He cited the lack of commercial establishments around the casino that could have
helped draw customers. The casino is located near Ninoy Aquino International
Airport in Paraaque City.
As much as possible we dont want to close down any casino, but the decision
depends on the viability of a casino, Naguiat told reporters Tuesday.
The casino generates an average of P180 million in gross revenues a month, half of
which is automatically remitted to the national treasury as dividends of the national
government.
Naguiat said the remaining P90 million was not enough to pay for the casinos
expenses. He said the rent alone for the property housing the casino already cost
P23 million a month.
He gave assurances, however, that the casinos 800 employees would not end up
jobless since they could be absorbed by the other casinos operated by Pagcor.
Naguiat said that, on average, Pagcor loses about 50 employees a month due
mainly to resignations and retirement, and that the closure of the Airport Casino
would not necessarily mean job displacement for the employees.

But he maintained that Airport Casinos case was more of an exception rather than
the rule, since the outlook for the countrys gaming industry in general remained
positive for this year.
He said the industrys revenues would be driven by incomes of privately operated
casinos, particularly Resorts World and Solaire. Other casinos operated by Pagcor
were also expected to generate profits this year, he said.
Besides Airport Casino Filipino, Pagcor operates five more casinos in Luzon and
three in other parts of the country.
Last year, Pagcor posted a net income of P3 billion, up from P2.8 billion in 2012.
Naguiat said Pagcor expected its net income to continue rising in 2014 and in the
next few years.