{"id":22792,"date":"2021-09-20T13:33:21","date_gmt":"2021-09-20T16:33:21","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22792"},"modified":"2026-04-23T15:32:08","modified_gmt":"2026-04-23T18:32:08","slug":"pagcor-casino-sale-seen-as-unviable","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-casino-sale-seen-as-unviable","title":{"rendered":"PAGCOR casino sale seen as unviable"},"content":{"rendered":"\n

A sale of PAGCOR’s wouldn’t be an option, analysts say.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- <\/strong>The government is keen to bring in more revenue due to the impact of the Covid-19 pandemic, but selling Philippine Amusement and Gaming Corp (PAGCOR)<\/strong>‘s own casinos wouldn’t be an option, analysts say.<\/p>\n\n\n\n

The regulator-cum-operator’s dual role has been a topic of long debate<\/strong> given the potential conflict of interest, and analysts have claimed that that the position is untenable if the Philippines want to establish a world-class gaming industry and regulatory system.\u00a0<\/p>\n\n\n\n

However, while PAGOR currently operates 40 properties, it does so via leases and doesn\u2019t own the properties themselves.<\/p>\n\n\n\n

Scott Feeney<\/strong>, director at GCG Gaming Advisory Services, said: “I\u2019m not convinced that investors would be keen on purchasing a lease and then having to compete with the 5-Star developments in Entertainment City or the current and future developments in Cebu and Clark.”<\/p>\n\n\n\n

Andrew Klebanow<\/strong>, principal at C3 Gaming agreed that government shouldn’t sell the licenses. He said: “Any suitor would take advantage of the government\u2019s need for funds and offer a lowball price. It would be wise for the government to let PAGCOR continue to own and operate its assets.”<\/p>\n\n\n\n

Andrea Domingo<\/strong>, PAGCOR chairman, recently said the casino industry in the Philippines could return to\u00a0pre-pandemic levels<\/a>\u00a0by the end of next year if the country achieves herd immunity and borders restrictions are lifted.<\/p>\n\n\n\n

She also predicted PAGCOR\u2019s revenues could reach between PHP35bn (US$701.6m) <\/strong>to PHP38bn in 2021.<\/p>\n\n\n\n

The regulator<\/a> also revealed that gaming income for the first half fell by 20 per cent year-on-year<\/strong> to PHP14.7bn (US$293.1m). In the first six months, the regulator made a profit of PHP79m<\/strong>.<\/p>\n\n\n\n

It previously reported that gaming revenue fell by 51.4 per cent year-on-year <\/strong>to PHP8.36bn (US$172.8m) in the first quarter of 2021<\/strong>, compared to nearly PHP17.22bn (US$339.8m) in the first quarter of 2020. Net income<\/strong> reached PHP152.6m (US$3.2m), down 80 per cent from Php777.4m (US$15.3m)<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A sale of PAGCOR’s wouldn’t be an option, analysts say.<\/p>\n","protected":false},"author":176,"featured_media":18576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Analysts assert that a sale of PAGCOR's casino operations is not a viable option for the Philippine government, citing the entity's lease-based property model and the potential for lowball offers. The long-standing debate regarding PAGCOR's dual role as regulator and operator is highlighted as an impediment to establishing a world-class gaming industry. Despite significant declines in H1 and Q1 2021 gaming income and net profit, PAGCOR's chairman projects a return to pre-pandemic revenue levels by late 2022.","focusai_entities":"PAGCOR, Philippine Amusement and Gaming Corp, Scott Feeney, GCG Gaming Advisory Services, Andrew Klebanow, C3 Gaming, Andrea Domingo","focusai_location":"Philippines, Entertainment City, Cebu, Clark","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"PAGCOR Dual Role Impact","query":"What specific governance frameworks or legislative actions are being considered to resolve PAGCOR's inherent conflict of interest as both a regulator and operator, and how might this impact future B2B\/B2C licensing structures in the Philippines?"},{"label":"Asset Divestment Strategy","query":"Given the analysts' concerns regarding the viability of selling PAGCOR's leased assets, what alternative capital market strategies is the Philippine government exploring to generate revenue from its gaming sector without compromising long-term industry development?"}],"footnotes":""},"categories":[163,16333],"tags":[23907,405],"class_list":["post-22792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-land-based-casino","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22792"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22792\/revisions"}],"predecessor-version":[{"id":22807,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22792\/revisions\/22807"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18576"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}