The Philippine Amusement and Gaming Corporation (Pagcor) is gearing up for a major change as chairman and CEO, Alejandro Tengco, has announced that the sale of its casinos will kick off in 2026. This decision comes after lawmakers demanded that the regulator divest its properties to avoid conflicts of interest.
Tengco made the announcement at a gaming conference in Manila on September 10th, emphasizing Pagcor’s commitment to focusing solely on its role as a regulator. He stated, “Since day one we have been very vocal about our plans to focus solely on Pagcor’s role as a regulator.” The sale, initially planned for 2025, aims to create a level playing field for stakeholders and prevent Pagcor from competing with its licensees.
Criticism has been mounting against Pagcor for its dual role as both regulator and casino operator, with lawmakers pointing out the inherent conflict of interest. The regulator currently oversees 45 gaming halls, including nine under the Casino Filipino brand, and Tengco expects the sale to bring in around ₱50bn.
In the meantime, Pagcor will continue to enhance its Casino Filipino sites by adding new gaming equipment to increase their value. This month, the regulator will install 2,000 new slots in the gaming halls, all of which operate on leased property. Tengco expressed confidence that with these initiatives, the Philippines will continue to lead in gaming industry innovations in the Asia-Pacific region.
The announcement of the upcoming sale received praise from casino mogul Kevin Tan, known as one of the country’s wealthiest individuals. Tan, who owns Alliance Global Inc. that operates Newport World Resorts in Manila and is developing casino resorts in Boracay and Cebu, believes that the sale will promote fairness among industry players and ensure long-term growth for the gaming sector.
In light of the upcoming changes, Tengco assured that Pagcor will support casino workers affected by the sale. Winning bidders will be required to retain 50% to 70% of the current workforce, while other employees will receive severance packages. Before the sale can proceed, Pagcor must amend its charter, a process expected to take place next year.
Overall, the impending sale of Pagcor’s casinos signals a significant shift in the Philippine gaming industry landscape, with the regulator prioritizing its role as a regulator and paving the way for a more competitive and transparent gaming sector.
