The Philippines government has begun the process of privatizing the casinos of Philippine Amusement and Gaming Corp. (Pagcor), which is expected to be completed by September 2017, local media reports.
On Wednesday, Senator Loren Legarda disclosed to the chamber that the government has already started the process of privatizing the state casinos.
“…they have already started it, the process of privatization and agreed that the regulatory function will only be retained with Pagcor,” she said, adding that “[In] 2017, by the third quarter… it is projected based on the timeline, I’m told that the process can be consummated.”
When asked about the Philippine Charity Sweepstakes Office (PCSO), Legarda said the government has no plans to privatize it.
Instead, she said there will be “strict monitoring” and an audit of the small town lottery (STL).
“Because it’s the belief of the DOF that not all earnings from STL are actually being remitted to the PCSO. They have not been totally transparent and therefore an audit is in order, which is going to be done soon,” Legarda said.
Through the audit, the senator said the PSCO could generate more revenues.