The Philippine Amusement and Gaming Corporation (PAGCOR) has changed the timeline for selling its government-owned casinos to the private sector. According to PAGCOR Chairman Alejandro Tengco, the process was initially scheduled to begin in mid-2025 but is now being pushed back to 2026.
The delay was announced because an amendment to PAGCOR’s charter is needed before they can begin selling their casinos. The amendment is expected to be completed and entered into law by 2025. Tengco has stated in the past that the selling of government-owned casinos is part of a bigger initiative to add broader legitimacy to casino regulation in the Philippines.
PAGCOR hopes to generate at least $893 million USD from the sale of its 45 owned casinos. Tengco has also promised current employees that winning bidders must keep 50-70% of current staff. Other employees will be offered competitive retirement packages.
PAGCOR first announced the privatization of the casino industry at the Asean Gaming Summit in March 2023. The agency has also announced renovations to its casinos before the sale, including updated gaming machines and table games.
PAGCOR Loses Offshore Operator Program
The Philippine Offshore Gaming Operators (POGO) program has been ended by the current President, Ferdinand “Bong Bong” Marcos. The POGO program was first introduced in 2016 after then-president Rodrigo Duterte relaxed the country’s internet gambling policies.
The POGO program drew intense backlash from prominent businesspeople and several Senators for crime that was often blamed on the industry. While many rogue operators got involved in illegal activities, most did not obtain POGO licensing. They would only operate under the guise of a legal license.
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