PAGCOR Chairman Alejandro Tengco now expects the privatization of Casino Filipino venues to begin in 2026 instead of the initially planned mid-2025 timeline. The Philippine Amusement and Gaming Corporation (PAGCOR), which owns these venues, must first undergo a crucial legal revision. Mr. Tengco emphasized that PAGCOR must amend its charter before taking any further steps.
“We still have to amend the charter of PAGCOR,” he told the media. “So next year will be allocated for the amendments.”
While discussing the upcoming privatization, Mr. Tengco acknowledged several complexities in the process. “There are a lot of things to do,” he said. “It’s not as easy as we thought it would be. Our priorities also include modernization and the lessors.”
Despite the obstacles, PAGCOR remains committed to proceeding. Mr. Tengco revealed that the agency’s casino assets will likely generate around PHP50 billion from the eventual sale. This projection, however, falls short of earlier estimates of PHP60 billion to PHP80 billion.
“Initially, I thought it was going to be big,” Tengco admitted. “But unfortunately, I realized that we do not own any property. We’re just leasing.”
As part of the ongoing modernization efforts, PAGCOR plans to install nearly 2,000 new and modern slot machines at Casino Filipino branches by mid-September. This upgrade aims to enhance gaming experiences and boost asset value ahead of the privatization rollout.
In addition, Mr. Tengco highlighted the agency’s plans to establish a gaming academy as a key pillar of the privatization strategy. This academy aims to elevate professionalism within the country’s gaming workforce.
PAGCOR also intends to partner with respected Asian gaming education providers. Together, they will form a consortium designed to train not only Filipino professionals but also individuals pursuing careers in gaming across other jurisdictions.
