Pagcor Counters Privatization Rumors with Clarification and Vision for the Future

Pagcor Sets the Record Straight on Casino Filipino and Future Plans

The Philippine Amusement and Gaming Corporation (Pagcor) has recently taken a firm stand against circulating rumors of a ₱500m renovation ahead of the Casino Filipino branch in Angeles City’s privatization. Alejandro H Tengco, Pagcor’s chairman, vehemently denies these claims, emphasizing a misinformation campaign that could mislead stakeholders and the public.

Pagcor’s Commitment to Transparency and Efficiency

Tengco clarifies that the alleged renovation costs for the Casino Filipino will not burden Pagcor’s finances. Instead, the lessor, owning the building, will shoulder the renovation expenses, showcasing Pagcor’s commitment to fiscal responsibility and enhancing customer experience without unnecessary expenditure.

Dispelling Privatization Misconceptions

The chairman further addresses concerns regarding the privatisation plan set for late 2025. He reassures that Pagcor is not only focusing on improving its facilities but also ensuring the well-being of its employees amidst these changes. Contrary to the alarming claims of 10,000 job losses, Tengco assures that Pagcor’s shift towards a regulatory focus will not equate to a wholesale dismissal of its workforce.

Pagcor’s Online Gaming Horizon

Looking ahead, Pagcor reveals plans to venture into online gambling with the upcoming launch of Casinofilipino.com in Q1 2024. This move signifies Pagcor’s adaptability and readiness to embrace digital transformation within the gaming industry, promising a broader reach and novel gaming experiences for its patrons.

Fostering a Competitive Gaming Ecosystem

Pagcor’s strategic pivot towards a purely regulatory role is designed to level the playing field and stimulate growth among operators. By welcoming new players and encouraging investment, Pagcor aims to solidify the Philippines’ position as a premier gambling destination in Southeast Asia.

Pagcor’s Vision for the Philippine Gaming Market

In his conversation with iGB at ICE London, Tengco shares ambitious plans for the Philippine gaming market in 2024. By regulating integrated resorts in Manila and adjusting structures to attract new investors, Pagcor is determined to elevate the Philippines as a key player in both the offline and online gaming arenas.

Conclusion: Pagcor’s Forward-Looking Approach

Pagcor’s response to rumors and its outlined plans for the future underscore a forward-looking approach to regulatory practices and market expansion. With a focus on innovation, fairness, and the welfare of its employees, Pagcor is poised to navigate the evolving gaming landscape with confidence and strategic insight.