The Philippine Amusement and Gaming Corporation (PAGCOR) recently broke ground on a new corporate office space.
The PAGCOR Corporate Center is set to be a state-of-the-art facility within the Bagong Nayong Pilipino complex in Pasay City, Metro Manila. The project will include the following:
- Total Area: The building will span 40,000 square meters (approximately 430,556 square feet), with an additional 15,000 square meters allocated for comprehensive fit-out.
- Funding and Construction: SMC is fully financing and constructing the facility at an estimated PHP2.45 billion (around USD $42 million), ensuring that PAGCOR incurs no expenses for this development.
- Completion Timeline: The project is scheduled for completion by 2028, representing a substantial milestone in PAGCOR’s infrastructure development efforts.
Alejandro Tengco, chairman and chief executive of PAGCOR, told the media that the government-owned gambling regulator has been renting spaces in less-than-ideal conditions for over four decades. Tengco also noted that PAGCOR will not occupy all 40,000 square meters and could lease some offices to offset operating costs. He also expressed that the additional earnings from leasing fees could cover the building’s maintenance expense.
San Miguel Corp chairman Ramon Ang stated that the construction of the PAGCOR Corporate Center is a partnership between the state gaming firm and the conglomerate.
What’s Next For PAGCOR In 2025?
The Philippine gaming regulator has been seeking to sell its government-owned casinos and wants to do so by the end of 2026. The agency recently shut down two underperforming casinos and plans renovations at other government-owned locations.
Chairman Tengco first announced they would sell their casinos at the Manila Gaming Conference in 2016. He said the agency will focus on regulation and bring more legitimacy to the Philippine gaming regulation industry.
Casinos In The Philippines
There are several domestic casino regions in the Philippines, with most luxury resorts centered around the capital city of Manila. PAGCOR regulates all brick-and-mortar gambling houses in the country and allows operators to operate online to PH players.
In addition, offshore online casinos are also allowed to accept bets from Philippine players. Online gambling sites have been operating in the country for years and, for a lot of players, have become the most trusted online casinos in the industry.