About Us

Corporate Background – Philippine Racing Club, Inc.

In 1937, a group of Filipino and American businessmen organized the country’s largest racing club, the Santa Ana Turf Club, which is now known as Philippine Racing Club, Inc. (PRCI). PRCI uses modern horseracing equipment designed to provide fast and accurate computation of dividends for horse racing enthusiasts. Until the end of 2008, PRCI’s racetrack facility was located at the Santa Ana district in Makati City. The last official horseracing at the 21.6-hectare Makati City racetrack was conducted on December 21, 2008 to pave the way for the eventual re- development of the Makati City property into a mixed use, residential-commercial project. Starting on January 6, 2009, horseracing is conducted in the new racetrack complex in Naic, Cavite. Horseracing in the new racetrack complex in Naic, Cavite commended on January 6, 2009.

At the beginning of 2013, PRCI became one of three operating racing clubs in the country. The other two are: Manila Jockey Club, Inc. (MJCI), the operator of San Lazaro racetrack, and Metro Manila Turf Club, Inc. (MMTCI), the operator of the Malvar, Batangas racetrack. Substantially same sets of horseowners and horses, jockeys and trainers and other racing people use the three racetracks. Until the end of 2012, PRCI races were conducted every other Tuesdays, Wednesdays, Thursdays, Fridays, Saturdays and Sundays. The race venues were alternatingly shuttled between PRCI and MJCI. With the entry of MMTCI in 2013, the racing calendar has been divided among the three racetracks; racing days are alternating held so that only one track operates in each race day. Racing operations of PRCI, MJCI and MMTCI are under the supervision of the Philippine Racing Commission (Philracom) while the betting aspects of racing are under the supervision of the Games & Amusements Board (GAB).

PRCI’s franchise for horse racing was renewed through R.A. No. 7953 on March 30, 1995 for another 25 years starting October 1997 up to year 2022. The franchise grants PRCI the right to construct, operate and maintain one racetrack in the City of Makati, or anywhere within the provinces of Rizal, Laguna and Cavite and conduct horse races therein. Under the franchise, PRCI may take or arrange bets for races conducted in or outside the Philippines. Also under the franchise, PRCI shall pay a franchise tax on its gross earnings from horse races and this tax shall be in lieu of any and all taxes, except income tax, that are imposed by the local or national government on the activities covered by the franchise.

Also under the franchise, the revenue of PRCI from betting is fixed at eight-and-a-half percent (8.5%) of total wager funds or gross receipts from the sales of betting tickets. The complete distribution of wager funds as fixed by the franchise law of PRCI is as follows:

82.00% estimated gross dividends of holders of winning tickets 8.50% gross revenue share (inclusive of value added tax) of PRCI 8.50% gross prizes of horseowners, jockeys, trainers 1.00% share of Philracom and GAB
100.00% Total Wager Funds
About 16% of the total wager funds goes to the government in the form of taxes such as value added tax, documentary stamp tax and taxes on winnings & prizes.

On May 3, 2011, the Board of Directors resolved to amend the Company’s registered office from Santa Ana Park, A. P. Reyes Avenue, Makati City to Saddle & Clubs Leisure Park, Brgy. Sabang, Naic, Cavite. The Securities and Exchange Commission (SEC) approved this change in corporate address on June 16, 2011.

 

 

 

Brief Bio-data of Directors

SANTIAGO CUA, Chairman Emeritus

Mr. Santiago Cua, a Filipino, was born on November 21, 1921. On June 18, 2012, Mr. Cua was elected Chairman Emeritus and Senior Adviser to the Board. He has been elected to the Board of PRCI since 1998. A well-respected businessman and community leader, Mr. Cua has investments in several industries, such as manufacturing, banking & finance, real estate development, and gaming and leisure.

Business Experience for the last Five Years: Mr. Cua is a director in Sta. Lucia Land, Inc. (formerly Zipporah Realty Holdings, Inc.) and Unioil Resources & Holdings Co., Inc. Both companies are publicly-listed.

SANTIAGO S. CUA, Jr., Chairman

Director Santiago S. Cua, Jr. graduated from the Ateneo de Manila University in 1974 with a degree of Bachelor of Science in Management Engineering. On June 18, 2012, Mr. Cua, Jr. was elected Chairman of the Board of PRCI. He has been elected to the Board of PRCI since 1994.

Business Experience for the last Five Years: Mr. Cua is formerly the President and Chief Executive Officer of JTH Davies Holdings, Inc. (a publicly-listed company). He also held several executive positions with the Philippine National Bank (another publicly-listed company) in the past.

SIMEON S. CUA, President & Chief Executive Officer

Born in 1957, Mr. Simeon S. Cua obtained his Bachelor of Science in 1977 and his Bachelor of Laws in 1982 both from the Ateneo de Manila University. He is admitted to the New York State Bar. On June 18, 2012, Mr. Cua was elected President & Chief Executive Officer of PRCI. Mr. Cua joined PRCI in June 2006 as Executive Vice President for Property Development.

Business experiences for the last five years: Mr. Simeon Cua is presently the Chairman and President of Cualoping Securities Corporation. He also holds several directorships in several companies both local and overseas.

EXEQUIEL D. ROBLES, Vice Chairman

Mr. Exequiel D. Robles, a Filipino, was born on April 10, 1955. He was re-elected Vice-Chairman of the Board and Member of the Executive Committee of PRCI on June 18, 2012. He has been elected to the Board of PRCI since 1994. He graduated from San Sebastian College in 1976 with a degree in Bachelor of Science in Accounting.

Business Experience for the last Five Years: Mr. Robles is affiliated with, and occupies the following positions in these companies: President/CEO, Sta. Lucia Realty & Development, Inc.; President, Sta. Lucia Land, Inc. (a publicly-listed company); and Director of the following companies, namely: Unioil Resources & Holdings Co., Inc.; Sta. Lucia East Commercial Complex; Eagle Ridge Golf & Country Club; Rancho Palos Verde de Davao Golf & Country Club; Orchard Golf & Country Club; Alta Vista de Cebu Golf & Country Club; Vista Mar Beach Club; and South Water Lucena Leisure Resort.

SOLOMON S. CUA, Vice Chairman

A former Undersecretary of the Department of Finance, Mr. Solomon Cua graduated from the University of Melbourne in 1976 with a degree of Bachelor of Arts (Economics and Mathematical Sciences). He earned his Bachelor of Laws degree from the University of Queensland in 1980. He obtained his Master of Laws degree at the London School of Economics and Political Science in 1981. He is currently the Vice-Chairman of PRCI. He has been elected to the Board of PRCI since 2001; his present term as a director is a result of his re-election on June 18, 2013.

RAMON P. EREÑETA, Jr., Treasurer

A former Commissioner of the Civil Service Commission and Presidential Assistant, Mr. Ramon P. Ereñeta, Jr. obtained his Master of Laws degree at the London School of Economics in 1983. He is a Professor of Law at the Ateneo Law School. On June 18, 2012, he was elected as director and Treasurer of PRCI. He joined PRCI in August 1997 as its Executive Vice-President and Chief Operating Officer. He is married with two sons and two daughters.

Business Experience for the last Five Years: Mr. Ereñeta held various positions in several corporations and non-government organizations. He was a Trustee of the Galing Pook Foundation and presently, he is Chairman of the Philippine Domestic Construction Board and a Member of the Board of the Construction Industry Authority of the Philippines.

EUSEBIO H. TANCO

Mr. Eusebio H. Tanco, a well-known Filipino businessman and entrepreneur, was born on August 12, 1949 in Manila. On June 18, 2012, Mr. Tanco was re-elected as member of the Board of PRCI. He has been elected to the Board of PRCI since 2011. He graduated from Ateneo de Manila University with a degree of Bachelor of Science in Economics. He obtained his Master of Science in Economics from the London School of Economics & Political Science. He was also conferred a Doctor of Humanities, honoris causa by Palawan State University. At present, he is a member of the Board of Governors of the Philippine Stock Exchange, Inc.; Chairman of the Philippines-Thailand Business Council; Chairman of Philippines-UAE Business Council; member of the Board of Trustees of Philippines, Inc.; and a member of the Philippine Chamber of Commerce and Industry.

Business Experience for the last Five Years: Mr. Tanco is affiliated with and he occupies important positions in many companies, some of which are as follows:

Financial Services: President, Optima Financing Corporation; Classic Finance, Inc.; Venture Securities, Inc.; Director, Advent Capital & Finance Corp.
Insurance: President, Philippines First Insurance Co., Inc.; Director, Philplans First, Inc. and Philippine Life Financial Assurance
Manufacturing: Director, J & P Coats Manila Bay; Director, Manila Bay Spinning Mills, Inc.; and United Coconut Chemicals, Inc.
Port Operations & Logistics: Vice Chairman & President, Asian Terminals, Inc.; and President, STMI Logistics, Inc.
Energy: Chairman, Mactan Electric Company
Properties and Construction: President, Total Consolidated Asset Mngt, Inc.; and Eujo Phils., Inc. He is the Chairman of the following companies, namely: Rescom Developers Inc.; International Hardwood & Veneer Corp.; Cement Center, Inc.; Agatha Builders Corp; Marbay Homes Inc.; and Insurance Builders Inc.; and Director, M.B. Paseo
ICT and ICT-Enhanced Education: Director & Excom Chairman, STI, Education Services Group, Inc.; Vice Chairman & Director, Philippine Women’s University; Chairman, West Negros University; Director, iAcademy; Chairman, Delos Santos – STI College and Director, Philippine Health Educators, Inc.
Placement & Staffing: President, GROW, Inc.
Healthcare: Director, PhilhealthCare, Inc.; Delos Santos – STI Medical Center; and Delos Santos – STI Megaclinic
Casinos & Gaming: Director, PRCI and Leisure & Resorts World Corporation
Holdings & Investments: Chairman, STI Education Systems Holdings, Inc.; STI Investments; Capital Managers & Advisors, Inc and President, Prime Power Holdings Corporation
Financial Institution: Director, Philippine Stock Exchange, Inc.

RENATO S. DE VILLA, Independent Director

General Renato S. De Villa, a Filipino, was born on July 20, 1935 in San Juan, Batangas. He was re-elected independent director of PRCI on June 18, 2012. He has been elected to the Board of PRCI since 2005. He graduated from the Philippine Military Academy in 1957. He acquired a master’s degree in Business Management from the Asian Institute of Management in 1972. He also took up Command and General Staff Course at the AFP Command and Staff College in 1975 and Defense Resources Management Course at the US Naval Post Graduate School in 1979. He was the Chief of Staff, Armed Forces of the Philippines from 1988 to 1991 and Secretary of National Defense from 1991 to 1997.

Business Experience for the last Five Years: General De Villa is the Chairman of the Filipino War Veterans Foundation (FILVETS); Vice-Chairman, Help Educate and Rear Orphans (HERO) Foundation; Adviser, Association of Generals and Flag Officers (AGFO); and Chairman, Independent Insight, Inc. (a security consulting company). He was also the Executive Secretary of the President of the Republic of the Philippines from January to May of 2001. He was the Presidential Adviser for Strategic Concerns in 2002.

JOSEPH N. DY, Independent Director

Mr. Joseph N. Dy, a Filipino, was born on September 15, 1952. He graduated from De la Salle University with a degree in Mechanical Engineering. He then acquired a master’s degree in Entrepreneurship from the Asian Institute of Management. He also took up Construction Project Management at the Ateneo de Manila University and Import-Export Business Development at the Executive Development Academy. He was re-elected Independent Director of PRCI on June 18, 2012. He has been elected to the Board of PRCI since 2002.

RENE T. TALE, Corporate Secretary

Atty. Rene Tale, a Filipino, was appointed as the Corporate Secretary of PRCI on June 17, 2013. He graduated from the Ateneo de Manila University Law school and he is a member of the Integrated Bar of the Philippines.

Business Experience for the last Five Years: Atty. Tale spent most of his professional career with the Ayala Group as part of its Corporate Legal team: 28 years with the Bank of the Philippine Islands and nine years with Manila Water Company, Inc. Presently, Atty. Tale is also the Corporate Secretaryof Cualoping Securities Corporation.

RACQUEL ROSE M. GUMIA, Assistant Corporate Secretary

Atty. Racquel Rose M. Gumia, CPA, REB, a Filipino, was born on December 12, 1983. Atty. Gumia was appointed as the Assistant Corporate Secretary of PRCI on June 17, 2013. She graduated from the Ateneo de Davao University in year 2004 with a degree of Bachelor of Science in Accountancy. She earned her Bachelor of Laws degree from the Ateneo de Davao University in 2010.

Business Experience for the last Five Years: Atty. Gumia has practically concentrated on her studies before she joined PRCI group. Aside from being the Assistant Corporate of PRCI, she is also the Corporate Secretary of subsidiaries Corporate Secretary of Philippine Newtown Ventures Corporation and Corporate Secretary of Philippine Newtown Global Solutions, Inc.Brief Bio-data of Corporate Officers

ALLAN V. ABESAMIS, Executive Vice President & Chief Operating Officer

Mr. Allan V. Abesamis, a Filipino, was born in November 1967 in San Rafael, Bulacan. He graduated Magna cum Laude with a Bachelor of Science in Business Administration degree major in Accounting from the Philippine School of Business Administration – Manila in 1988. He placed 4th overall in the CPA examinations given in October 1988. He started his professional career with Punongbayan & Araullo (P&A) auditing firm in November 1988 and he worked with Ernst & Young – Boston, Massachusetts, USA in September 1993 for one year as senior audit supervisor. He returned to the Philippines in August 1994 and left P&A in October 1997 as a senior audit manager. He obtained his Masters in Business Administration degree from the Ateneo Graduate School of Business in 2004. He is married to Ms. Jennifer Tan and they are blessed with three sons.

Business Experience for the last Five Years: Mr. Abesamis joined PRCI in November 1997 as the Chief Finance Officer. He currently occupies the position of Executive Vice-President & Chief Operating Officer. He has supervision over racing and betting operations of PRCI.

SANTIAGO CUALOPING, III, Senior Vice President for Finance

Mr. Santiago N. Cualoping, lll graduated from Santa Clara University in Santa Clara, California, USA in year 2000 with a degree of Bachelor of Science in Operational Management Information Systems. On June 18, 2012, Mr. Cualoping joined PRCI as Senior Vice President for Finance.

Business Experience for the last Five Years: From February 2010 to October 2013, he was Senior Vice President of Philplans First Inc. From August 2007 to January 2010, he was an Assistant Vice President for Corporate Banking at Rizal Commercial Banking Corporation. From July 2000 to July 2007, he was with Xilinx, Inc. in San Jose, California, USA as Senior Financial Analyst.

 

VISION:

The Philippine Racing Club, Inc. strives to be a leading provider of leisure and recreational activities with its steadfast commitment to the sport of thoroughbred horse racing and focused expansion into mixed use real estate development and the food & beverage business.

MISSION STATEMENT

The Philippine Racing Club, Inc. promotes family recreation and entertainment through various avenues such as the Santa Ana Park – the country’s premier horseracing institution, real estate developments in partnership with top developers and venturing into the food & beverage business while contributing in a meaningful way to the community around us as well as to other social causes.

Additional Downloadable Items

• PRCI Amended Articles of Incorporation
• PRCI Amended By- Laws