The Philippine Amusement and Gaming Corp (PAGCOR) will lay off 665 employees currently working at the Casino Filipino New Coast property, as part of its plan to transfer operations to a private-sector group led by Hong Kong-listed International Entertainment Corp.
As early as December, PAGCOR informed the affected employees about the decision. On Wednesday, PAGCOR Chairman Alejandro Tengco clarified that the previous administration, under President Rodrigo Duterte, had already negotiated the venue’s sell-off. Therefore, the current leadership simply followed through on an agreement that had been previously established.
Tengco also confirmed that PAGCOR complied with all local labor laws and, in addition, provided incentive packages to the 665 workers. These layoffs account for approximately 6% of PAGCOR’s total workforce. While the news is difficult, the agency aimed to handle the transition as fairly and responsibly as possible.
Meanwhile, in late September, International Entertainment Corp announced to the Hong Kong Stock Exchange its plan to invest between US$1.0 billion and US$1.2 billion in developing an integrated resort and casino in Manila. The project, notably, includes renovating and expanding the current New Coast Hotel Manila. In support of this, PAGCOR granted provisional licenses to two of International Entertainment’s local subsidiaries—Marina Square Properties Inc. and New Coast Leisure Inc.—authorizing them to develop and operate the casino resort.
Tengco further stated that Marina Square Properties will officially take over the operations at Casino Filipino New Coast by mid-February. The takeover signals a broader shift in how PAGCOR envisions the future of gaming in the Philippines.
Earlier, PAGCOR announced its plan to transform from a dual-role agency—serving as both operator and regulator—into a purely regulatory body. This change, according to industry watchers, marks a major turning point. By removing the conflict of interest inherent in regulating one’s own operations, PAGCOR sets the stage for a more transparent, competitive gaming environment.
Furthermore, increased private sector involvement could improve industry standards, elevate customer experience, and ultimately benefit both land-based casinos and the growing online gaming space. With this handover and regulatory shift, the Philippines signals its intent to modernize and level up its gaming industry.
