• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Philippines starts Pagcor casinos sale in 2018: report

Sep 11, 2017 Newsdesk Latest News, Philippines, Top of the deck  


Philippines starts Pagcor casinos sale in 2018: report

Philippine Finance Secretary Carlos G. Dominguez III says the government expects to sell 17 casinos currently operated by the country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor), in a first round of disposals due to begin in 2018.

“Those casinos being operated directly by Pagcor should be privatised first,” Mr Dominguez was quoted as saying by the Philippine Daily Inquirer newspaper.

The finance chief said the government was first assessing the capacity and business volume of each venue – including the number of gaming tables and visitors – to determine valuations.

“That should be [done] one by one because every casino is very different,” Mr Dominguez said, adding he expected to complete the assessment by year-end. “Then, we’ll figure out the method of privatisation” for each venue, he reportedly said.

The Philippine Department of Finance announced in August last year a plan to strip Pagcor of the right to operate a portfolio of public sector casinos.

Pagcor directly operates a suite of state-run casinos and oversees a number of private-sector ones. Its own brand of casinos is called “Casino Filipino”. According to the latter’s website, the brand operates venues in 13 locations across the country, and has a further 35 so-called “satellite” sites across the Philippines.

Speaking to local reporters last week, Mr Dominguez noted that the privatisation of Pagcor’s casinos might take several years. “It’s not going to happen overnight and the deals are quite complex so we have to piece it out and see what is the best deal for the government,” he was quoted as saying.

The Finance Secretary additionally said that the government was determined to sell the casinos currently operated by Pagcor, as the latter body should focus on its regulatory functions.

A lawmaker in the Philippines submitted a bill in late May to the country’s Senate to amend the Presidential Decree that created Pagcor. The bill states that Pagcor “should cede its role as operator of all gambling and gaming activities”.


  • tweet
Related articles
  • Macau govt leaves door open to casino concession extension
    Macau govt leaves door open to casino...

    Dec 23, 2020  

  • Pagcor boss affirms some Ent City casinos have PIGO permits
    Pagcor boss affirms some Ent City...

    Dec 09, 2020  

More news
  • Face tech ATMs in mainland’s Zhuhai near Macau say reports
    Face tech ATMs in mainland’s Zhuhai...

    Jan 19, 2021  

  • Investors see 2H Macau gain, rebound 2022: Bernstein
    Investors see 2H Macau gain, rebound...

    Jan 19, 2021  


Latest News

Face tech ATMs in mainland’s Zhuhai near Macau say reports

Face tech ATMs in mainland’s Zhuhai near Macau say reports

Jan 19, 2021  

Bank automated teller machines (ATMs) with facial recognition technology have been installed since Monday in some places in the mainland China city of Zhuhai, next door to Macau, according to several...
Read More
Investors see 2H Macau gain, rebound 2022: Bernstein

Investors see 2H Macau gain, rebound 2022: Bernstein

Jan 19, 2021  

MBS ArtScience Museum to host Star Wars exhibition

MBS ArtScience Museum to host Star Wars exhibition

Jan 19, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"We forecast Grand Lisboa Palace will have EBITDA of HKD2.0 billion (US$260 million) with 330 tables by 2022, and HKD3.5 billion with 380 tables by 2023"

Credit rating agency Fitch Ratings




Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Casino op MGM China to pay most staff discretionary bonusCasino op MGM China to pay most staff discretionary bonus January 18, 2021
  • Mass market play record 65pct Macau GGR in 4Q: govtMass market play record 65pct Macau GGR in 4Q: govt January 15, 2021
  • Malaysia Covid outlook negative to Genting Bhd: Moody’sMalaysia Covid outlook negative to Genting Bhd: Moody’s January 15, 2021
  • Wakayama casino RFP deadline affirms still 2 suitorsWakayama casino RFP deadline affirms still 2 suitors January 18, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us