The Governance Commission is expected to submit its recommendation to the Office of the President next month.
The Philippines.- The plan to separate the Philippine Amusement and Gaming Corporation’s (PAGCOR) regulatory and casino operating functions is expected to reach a key stage in August. The Governance Commission for Government-Owned or -Controlled Corporations (GCG) is scheduled to complete its review of the plans and submit its recommendation to the Office of the President.
The review will allow the Office of the President to evaluate the proposal and issue an executive order. According to PAGCOR Chairman and CEO Alejandro Tengco, this could be by the end of the year.
The proposed change would see PAGCOR give up its role as a casino operator to focus exclusively on regulation. The state-owned Casino Filipino chain would be privatised.
Tengco described the reform as one of his main objectives, saying: “I think this will be my legacy, to be able to decouple, and PAGCOR will only be a regulator.”
GCG Chair Marius Corpus said the review is in its final stages but still needed to be approved. He said PAGCOR’s reorganisation would be carried out in phases once approved and noted that existing integrated resort operators had expressed interest in Casino Filipino properties.
The Governance Commission is expected to submit its recommendation to the Office of the President next month. The Philippines.- The plan to separate the Philippine Amusement and Gaming Corporation’s (PAGCOR) regulatory and casino operating functions is expected to reach a key stage in August. The Governance Commission for Government-Owned or -Controlled Corporations (GCG) is scheduled…
