The Philippine Amusement and Gaming Corp (Pagcor), the country’s gaming regulator, says it has partnered with the Development Academy of the Philippines (DAP), in order to push forward with the sale of its casinos and facilitate the agency’s reorganisation.
The DAP is a government-owned and controlled corporation mandated to assist agencies and local government units in their development efforts.
In a press release on Tuesday, Pagcor’s chairman and chief executive, Alejandro Tengco (pictured), said the agency “tapped DAP’s technical assistance” to comply with the requirements of the governance commission for the country’s government-owned and controlled corporations. That was regarding the implementation of a Compensation and Position Classification System (CPCS), a necessary step prior to privatisation of Pagcor’s network of Casino Filipino-branded venues.
Mr Tengco had announced in March a plan for Pagcor to sell its network of small, state-owned casinos. He said at the time that the agency expected to raise up to PHP80 billion (US$1.41 billion) from the sale.
The Pagcor boss said last week that the process for Pagcor to end its casino operating functions and to focus on regulatory work “should be completed by 2025”.
According to the official, Pagcor’s shift to a purely regulatory role is part of the agency’s goal to “level the playing field and ensure future growth and viability for all gaming industry players.”
Mr Tengco was cited in Tuesday’s announcement as saying that Pagcor needed DAP’s help “to comply with the [documentary] requirements” to eventually “implement the CPCS” that its employees “have been eagerly waiting for.”
The Pagcor chief also said the agency wanted to engage DAP for the latter to conduct training for “Pagcor officers and employees to enhance their skills and competencies”.
Mr Tengco said previously that the agency was “crafting plans” to avoid displacement of personnel, “especially in Pagcor-operated casinos that will need to be privatised.”
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