Pagcor mulls regulatory-only role, privatizing casinos
Pagcor chairman and CEO Alejandro Tengco (third from left) and Luis Pereira, managing director of Asia Gaming Brief, visit the exhibit area during the opening of the Asean Gaming Summit in Marriott Manila on March 21, 2023. With them are members of the Pagcor board and other key executives. – contributed photo
MANILA, Philippines — Philippine Amusement and Gaming Corp. (Pagcor) under its new leadership is “seriously considering” focusing on its regulatory role and possibly privatizing its self-operated casinos nationwide.
Pagcor chair and chief executive Alejandro Tengco said this during the opening of the Asean Gaming Summit in Manila on March 21.
In a statement, Tengco said the current board, whose members started their term in August 2022, has been open to talks about privatization.
But Tengco gave assurance that the welfare of employees who would be affected by such a decision would be taken into consideration.
Tengco added Pagcor’s plans and programs for 2023 would be geared toward “benefiting gaming industry stakeholders, upholding responsible gaming, and contributing to the government’s nation-building efforts.”
Among these programs are the creation of regulatory frameworks for online poker operations, enhancement of slot machine operations, destruction of outdated gaming paraphernalia and equipment, creation and updating of regulatory manuals, according to the statement.
In line with efforts to strengthen its regulatory functions, Tengco said Pagcor had forged partnerships with various government agencies including the Department of Justice, Department of Interior and Local Government, Philippine National Police and the National Bureau of Investigation to update and revise the Mutual Cooperation Agreement, whose main objective is to combat illegal gambling.
