The agency is waiting for the completion of a review by the Governance Commission for Government Owned and Controlled Corporations.
The Philippines.- Alejandro H. Tengco, chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), has said that the agency aims to privatise Casino Filipino operations in late 2026 or early 2027. The move will make PAGCOR a regulator only by separating its casino operation.
According to The Phil Star, PAGCOR CEO said the agency was only awaiting completion of a review by the Governance Commission for Government Owned and Controlled Corporations (GCG) and its green light for the proposal. After GCG approval, Tengco said the proposal will be forwarded to the Office of the President, which may issue an executive order or amend existing directives.
It’s estimated that the sale of Casino Filipino branches could generate between PHP30bn and PHP50bn (US$530m to US$880m). PAGCOR would retain it regulatory functions, taking fees for licence issuances to private operators.
Tengco noted that 70 per cent of PAGCOR’s income is currently allocated to nation-building contributions. Once its casino operations are privatised, this structure will change.
Last September, Tengo had said Casino Filipino employees would be redeployed, absorbed by private operators, or granted competitive retirement benefits once the planned privatisation of PAGCOR’s gaming operations takes place.
The agency is waiting for the completion of a review by the Governance Commission for Government Owned and Controlled Corporations. The Philippines.- Alejandro H. Tengco, chairman and CEO of the…
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