PAGCOR Chairman Alejandro Tengco now expects the privatization of Casino Filipino venues, owned by the Philippine Amusement and Gaming Corp (PAGCOR), to begin in 2026 instead of mid-2025. Mr. Tengco emphasized that PAGCOR’s charter needs to be amended first. “We still have to amend the charter of PAGCOR, so next year will be allocated for the amendments,” he told the media.
Discussing the privatization process, Mr. Tengco acknowledged the challenges involved: “There are a lot of things to do. It’s not as easy as we thought it would be, and our priorities include modernisation and the lessors.”
He revealed that PAGCOR’s casino assets are likely to generate approximately PHP50 billion from their sale, down from earlier estimates of PHP60 billion and PHP80 billion. “Initially, I thought it was going to be big. But unfortunately, I realised that we do not own any property; we’re just leasing,” he explained.
Additionally, nearly 2,000 new and modern slot machines will be installed at Casino Filipino venues by mid-September as part of PAGCOR’s modernization program, ahead of the privatization.
Mr. Tengco also highlighted plans to establish a gaming academy as part of the privatization efforts, aimed at enhancing professionalism in the country’s gaming industry. He said PAGCOR aims to partner with Asian gaming education providers to create a consortium catering not only to the Philippine workforce but also to those pursuing gaming careers in other jurisdictions.