Tag Archives: PAGCOR
Philippines – Analyst questions PAGCOR’s valuation due to shift in market share
The price set by Philippine regulator and operator PAGCOR for the sale of its casinos could fall due to a shift in market share from its own casinos to those licensed in Manila and Clark. Maybank Securities analyst Miguel Sevidal pitches Manila’s Entertainment City market share at now 80 per cent with casinos in Clark…
Philippines – Maybank Securities pitches Travellers International as likely bidder for Pagcor casinos
Maybank Securities believes that Philippine casino group Travellers International, developer of Resorts World Manila, is one of the most likely bidders for PAGCOR’s 43 casinos. Maybank Securities analyst Miguel Sevidal believes the price will have to be revisited though with Php80bn (US$1.44bn) simply too high. He said: “Travellers may be a candidate, given its medium…
Philippines – PAGCOR ‘seriously considering’ a purely regulatory role
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro Tengco disclosed the new management’s plans to focus more on PAGCOR’s regulatory role, expand the agency’s reach and contribute more to nation-building. During the opening of the ASEAN Gaming Summit in Marriott Manila on March 21, 2023, where Tengco was keynote speaker, the PAGCOR chief…
Philippines – Philippines rebounds in 2022 with 68 per cent increase in gaming income
Gaming has rebounded in the Philippines with PAGCOR, the country’s gaming regulator confirming a 68 per cent jump in income to US$1bn in 2022. This was 2.4 per cent more than the approved budget for the year by the Department of Budget and Management. Fourth quarter income was up by 9.3 per cent from the…
Philippines – Philippines Department of Finance adds its support to PAGCOR being privatised
The Philippines Department of Finance has reiterated calls for PAGCOR to be stripped of its dual operator/regulator model with opinion split over whether it should remain as an operator or be forced to sell off its 47 casinos and act solely as a gaming regulator. Department of Finance Secretary Benjamin Diokno believes it is ‘wrong’…
Philippines – PAGCOR pitches 2026 as the year revenues will break 2019’s figures
PAGCOR, the Philippines gaming regulator, has stated that it will be another four years until its GGR is back up to pre-COVID 2019 levels. PAGCOR’s licensing and regulatory group chief, Daniel Cecilio gave the 2026 prediction to Reuters, saying: “Definitely there will be no more lockdowns but bringing back the confidence of players is hard.” In…
Philippines – Galaxy on alert as Philippines lifts ban on new casino projects
In an unexpected move, PAGCOR, the Philippine’s gaming regulator, has confirmed it is lifting the moratorium introduced by President Rodrigo Duterte in 2018 to ban new casino project, and that it will start looking at new applications for casinos, including any for holiday island Boracay. With the government keen to boost the economy following the…
Philippines – Transformation of New Coast Hotel Manila into a casino has been delayed
International Entertainment Corp (IEC) has confirmed that COVID is delaying a cooperation agreement with Philippines gaming regulator PAGCOR that would see it transform an existing hotel in Manila into an Integrated Resort casino following the issuance of a provisional license from PAGCOR. The company said: “Due to the surge of the highly contagious Delta variant…
Philippines – PAGCOR manages to return to profit despite revenue falling
PAGCOR, the Philippines gaming regulator, was just about in profit again in June despite a 19.9 per cent drop in revenues in its second quarter, compared to last year, with 14.2 per cent fall quarter by quarter to Php14.78m (US$294m). Profit came in at Php79.1m (US$1.6m), down US$3m from the first quarter but up from…
