Supplier News
Philippines – PAGCOR to complete casino sale by September 2017
By Phil - 23 November 2016
The privatisation of the casinos currently owned by PAGCOR, the Philippines Amusement and Gaming Corporation, will be completed by September next year.
Chairwoman of the Philippines Senate Committee on Finance, Senator Loren Legarda, confirmed the 2017 deadline, and also that the process was already underway.
She said: “They have already started the process of privatisation and agreed that the regulatory function only will be retained with PAGCOR. I’m told that the process will be consummated by the third quarter of 2017.”
The Department of Finance (DOF) confirmed that PAGCOR is looking to sell three casinos in Manila, five in Luzon, and five in Visayas-Mindanao. Pagcor operates 608 gaming tables and 10,603 EGMs at venues using the Casino Filipino brand. It also regulates 10 privately-owned casinos which run around 1,280 gaming tables and 7,205 EGMs.
In Metro Manila, it operates Casino Filipino Hyatt, Casino Filipino Pavilion and Casino Filipino Midas.
In Luzon it owns Casino Filipino Angeles, Casino Filipino Laoag. Casino Filipino Mimosa, Casino Filipino Olongapo and Casino FilipinoTagaytay.
In Visayas-Mindanao it runs Casino Filipino Bacolod, Casino Filipino Cebu, Casino Filipino Davao, Casino Filipino Mactan and Casino Filipino Iloilo.
PAGCOR’s net income for the first nine months of the year increased by 0.3 per cent to P3.2bn. GGR from gaming operations increased 17 per cent to P38.13bn.
