The Philippine Amusement and Gaming Corp. (PAGCOR) is moving forward with a plan to sell its casinos and operate solely as a gaming regulator. PAGCOR Chairman and CEO Alejandro Tengco said the sale should be complete by 2025.
According to Asia Gaming Brief, Tengco said the goal is to “level the playing field and ensure future growth and viability for all gaming industry players.
“We have started preparing for this transition in earnest, and we are starting where it matters most—within PAGCOR itself,” Tengco said.
“We certainly know our potentials and capability to become the gold standard in the Asian gaming scene.”
He acknowledged that the sale could adversely affect PAGCOR employees who work on the operational side, and the agency is working to avert that outcome.
“We have been going around the country during the past few months, holding town hall meetings with our employees,” he said. “We tell them there is no reason to worry because we have plans in place to mitigate, if not totally avoid, any personnel displacement. You will be surprised to know how people react to our plans, and how they express their trust in our process.”
Tengco also said PAGCOR is “making necessary changes in its corporate structure, business processes and procedures to make it more responsive and competitive,” such as founding a self-contained corporate headquarters to improve efficiency and performance.
