Pagcor begins study on casino sale

The Philippine Amusement and Gaming Corporation has begun a study into the possible sale of more than 40 “productive assets” to end conflicts of interest arising from being both a casino operator and regulator, local media reported, citing Maricar Bautista, assistant vice president for corporate communications.

However, she said the study may take some time because of the need for a valuation of Pagcor’s assets.

According to the report, Pagcor is the government’s third-largest source of revenue, with PHP32.7 billion ($679 million) in assets as of end June. It operates 11 Casino Filipino branches.

The new head of Pagcor Andrea Domingo told a budget hearing at the House of Representatives in August that the administration is preparing for the privatization process following a directive from Finance Secretary Carlos Dominguez.