The privatization of Philippine Amusement and Gaming Corp. (Pagcor) casinos will begin in 2026, and is expected to yield at least P50 billion.
“As to the Pagcor privatization of its casinos, or Casino Filipino, we intend to start the process by early part of 2026,” Pagcor chairman and chief executive officer Alejandro Tengco said at the Inside Asian Gaming Academy Summit at the Newport World Resorts.
“Since day one, I have been very vocal about our plans to focus solely on Pagcor’s role as a regulator to provide a level playing field for all our stakeholders,” Tengco said.
The privatization of Pagcor casinos will start a little later than expected, as it was initially seen to begin mid-2025.
At the sidelines of the event, Tengco told reporters this was due to the need to amend the Pagcor charter, as well as the modernization of the said casinos.
“We have started modernizing our Casino Filipino properties, including all our gaming facilities and equipment. Our partner lessors have started the renovation of our gaming venues and other game offerings to increase foot traffic and overall profitability of our Casino Filipino venues,” Tengco said.
Tengco said he expects to generate at least P50 billion in revenues from the privatization of around 40 Pagcor casinos.
“I realized when I assumed office, we do not own any property, we’re just leasing. So, what we’re selling here is the license and future revenue,” Tengco said.
As for the employees, Tengco said they will be given “a very good retirement” package since it is an involuntary situation.
He added part of the terms of reference of the privatization will be to require the winning bidder to absorb at least 50 to 70 percent of the employees.
“Part of our privatization plan is to further professionalize the gaming industry by establishing a Gaming Academy that will help address the growing demand for skilled gaming and hospitality professionals,” Tengco said.
“We aim to do this by forging partnerships with Asian gaming education providers to create a consortium that caters not only to the Philippine workforce but also to all who wish to build a career in gaming in other jurisdictions,” he added.
Tengco said the Pagcor Gaming Academy should also help create unique opportunities for Pagcor employees once the Casino Filipino properties are privatized.
In a related statement, Pagcor said nearly 2,000 units of new and modern slot machines for Casino Filipino gaming venues will be delivered mid-September as part of the agency’s modernization program.
The agency has ordered a total of 3,341 new slot machines which are identical to those that are being used in the country’s top integrated resort casinos.
The first batch arriving within the week consists of 1,968 units.
