Pagcor studies casino sales

The Philippine gaming corporation is studying the market, following an order to privatise Pagcor-owned casinos.

Philippines.- The Philippine Amusement and Gaming Corporation (Pagcor) is currently studying the possibility of selling more than 40 “productive assets” to avoid and end conflicts of interest from being a casino operator and regulator at the same time.

Maricar Bautista, assistant vice president for corporate communications, said that the study “may take some time because of the need for a valuation of Pagcor’s assets.” With €604 million in assets as of end June, Pagcor is the government’s third largest source of revenue: it operates 11 Casino Filipino branches.

A few weeks ago, Pagcor Chair Andrea Domingo, said that they will try to recover through other gaming related activities, like offshore e-games, which would be limited to foreigners. He also commented that they’re preparing for the privatisation process following a directive from Finance Secretary Carlos Dominguez, who initially suggested to privatise their owned casinos.