{"id":777013197,"date":"2024-02-15T10:13:49","date_gmt":"2024-02-15T13:13:49","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013197"},"modified":"2026-04-22T12:58:05","modified_gmt":"2026-04-22T15:58:05","slug":"pagcor-denounces-false-information-on-casino-privatisation-plan","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-denounces-false-information-on-casino-privatisation-plan","title":{"rendered":"PAGCOR denounces false information on casino privatisation plan"},"content":{"rendered":"\n

The regulator denies accusations of privatization profiteering and mass layoffs.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0The Philippine Amusement and Gaming Corporation (PAGCOR)\u00a0has released a statement warning of misinformation regarding\u00a0its casino privatisation plans<\/a>.\u00a0PAGCOR chairman and CEO\u00a0Alejandro H. Tengco<\/strong>\u00a0addressed concerns raised by an employee,\u00a0Gian Samson<\/strong>, regarding the renovation of a Casino Filipino branch in Angeles City.<\/p>\n\n\n\n

In a social media post, Samson had claimed that the renovation was aimed at making the casino more attractive to potential buyers. However, Tengco said the renovation was part of PAGCOR’s ongoing efforts to improve facilities and services for customers and that the renovation costs would be covered by the owner, not PAGCOR.<\/p>\n\n\n\n

Tengo said: “The building housing the CF Angeles branch is not owned by us, so we reached an agreement with the owner to cover the renovation expenses as they own the property, and PAGCOR is just a renter.”<\/p>\n\n\n\n

PAGCOR’s chairman also dismissed claims from the PAGCOR Employees Association (PAGCEA) about the possible layoff of 10,000 people due to the privatisation plans.<\/p>\n\n\n\n

“This number is absurd because 10,000 employees are our total workforce. I urge our employees not to believe the falsehoods spread by some people,” Tengco stated. He added: “We are here to advocate for your welfare, but let us fulfil our duties.”<\/p>\n\n\n\n

PAGCOR has posted an income of PHP79.38bn (US$1.41bn),\u00a0a year-on-year increase of 34.6 per cent<\/a>\u00a0for 2023. The regulator posted gross income from gaming operations of PHP73.11bn (US$1.30bn), up 32.8 per cent year-on-year. Total comprehensive income was PHP6.82bn (US$121m), up 53.3 per cent in year-on-year terms. Expenses for 2023 increased by 18 per cent year-on-year to nearly PHP26.65bn.\u00a0<\/p>\n\n\n\n

The regulator deducted approximately PHP45.63bn (US$809m) in government subsidies, financial assistance and other contributions. That figure was up 44.2 per cent from PHP31.65bn in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

The regulator denies accusations of privatization profiteering and mass layoffs.<\/p>\n","protected":false},"author":176,"featured_media":777008064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR has refuted claims of privatization profiteering and mass layoffs, clarifying that casino renovations are for service improvement and not for sale preparation, with costs covered by property owners. The regulator also dismissed assertions of 10,000 potential layoffs, emphasizing its commitment to employee welfare. Concurrently, PAGCOR reported robust 2023 financial results, including a 34.6% year-on-year income increase to PHP79.38bn, alongside significant government contributions.","focusai_entities":"Philippine Amusement and Gaming Corporation (PAGCOR), Alejandro H. Tengco, Gian Samson, PAGCOR Employees Association (PAGCEA)","focusai_location":"The Philippines, Angeles City","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR Privatization Governance?","query":"What specific governance frameworks will be implemented to ensure transparency and prevent profiteering during PAGCOR's privatization process?"},{"label":"B2B Licensing Impact?","query":"How will the proposed privatization impact the B2B licensing structure for suppliers currently operating under PAGCOR's regulatory umbrella?"}],"footnotes":""},"categories":[157,158,16333],"tags":[405],"class_list":["post-777013197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013197","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=777013197"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013197\/revisions"}],"predecessor-version":[{"id":777013208,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013197\/revisions\/777013208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777008064"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}