Tengco’s ambitious plans to privatise PAGCOR casinos

Maria Debrincat 1 year ago
Tengco’s ambitious plans to privatise PAGCOR casinos

Chairman Alejandro Tengco’s ambitious vision to transform the Philippine regulatory body

Alejandro Tengco, the Chairman of the Philippine Amusement and Gaming Corporation, has ambitious plans to privatise PAGCOR casinos. If the authority proceeds with this initiative, it will enable the organization to concentrate exclusively on regulatory affairs. Currently, PAGCOR carries out both regulatory and operational functions, and this dual role is seemingly straining its resources and focus.

Board of directors’ support for Tengco’s proposal

The regulator has indicated that the majority of its board of directors endorse Tengco’s proposal to direct all of PAGCOR’s resources toward market regulation. The Chairman has stated that while PAGCOR has been receptive to exploring privatisation, the welfare of its employees, who would undoubtedly be affected by this significant transformation, has always been its top priority.

He expressed in a statement “we are studying the possibility of regulating other facets of the overseas gaming operations, or the possible regulation of Special Class of BPOs or those who service legitimate operators licensed abroad.”

PAGCOR has taken steps to reassess policies and regulatory frameworks for online gaming, in response to concerns raised about Philippine Offshore Gaming Operators (POGOs). The Chairman acknowledged that the organization has certain limitations in terms of enforcement and addressing illegal gambling. Therefore, PAGCOR has strengthened its partnerships with various law enforcement agencies to tackle this issue.

Conflict of interest with PAGCOR’s current role

PAGCOR’s current role as both operator and regulator results in a conflict of interest, which can be resolved by relinquishing control over its casinos. PAGCOR is currently responsible for 10 casinos under the Casino Filipino brand and 32 pure satellites, totaling 42 properties. Apart from eliminating the conflict of interest, selling off the casinos would generate much-needed funds for the government. Although Tengco is in favor of privatising PAGCOR’s casinos, the regulator has not yet established a clear plan for doing so.

Optimism despite competition

With 42 casinos to be privatised, the process may take some time, but Tengco remains optimistic, believing that the properties will attract interest despite competition. He acknowledges that the PAGCOR casinos may not have the most modern facilities, but he is confident that the talent pool is just as impressive. Tengco emphasises that the authority’s most valuable asset is its human resources, and they intend to take full advantage of it.

SiGMA Group meets with PAGCOR officials to discuss upcoming conference in Manila

SiGMA Group is preparing to expand its reach by introducing its B2B and B2C brands to Manila in July, accompanied by several land-based exhibitors. The goal is to bring SiGMA’s vast network in the West closer to Asian suppliers, operators, and affiliates. As the gaming industry continues to evolve, events such as this will play a crucial role in shaping its future. The event will take place at SMX, Manila’s largest expo centre and has received endorsement from PAGCOR. To join the conversation and take advantage of all the benefits of this event, purchase your tickets and visit our website.

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