Pagcor nears endgame in casino privatization
The Philippine Amusement and Gaming Corp. is in the homestretch of a plan to privatize its casino operations.
This is a move that would end its dual role as both regulator and operator in the country’s multibillion-peso gaming industry.
Speaking at the Inside Asian Gaming Summit 2025, Pagcor chair and CEO Alejandro Tengco said the Governance Commission for Government-Owned and Controlled Corporations is now reviewing the required documents for its “decoupling.”
Even so, Tengco added that the shift requires careful legal work, as the agency’s powers are defined by presidential decree and law.
“Pagcor’s dual role has served its purpose in the past but as the industry matured, it became clear that—in layman’s terms—a referee cannot also be a player on the same field,” he said.
Recent moves point to the change ahead.
Recall that Hong Kong-listed International Entertainment Corp. recently secured a provisional license from Pagcor. That is, to run the casino at the New Coast Hotel, a Manila property where Pagcor previously run the gaming floor.
And the shift will happen amid the robust growth of the local gaming sector. The industry saw its revenues reach P215 billion in the first half, a jump of 25.7-percent year-on-year.
The controversial electronic games sector—composed of e-games, e-bingo, and bingo grantees—accounted for P114.83 billion. This represents 53.47 percent of the total top line, continuing to outperform brick-and-mortar casinos.
Tengco said the local gaming sector is on track to hit its target revenues of $7 billion or nearly P399 billion for all of 2025.
This, despite calls to tighten oversight of online gaming platforms. Among the measures that Pagcor introduced are the ban on use of credit cards and cryptocurrencies for betting, stricter rules on gambling advertisements in partnership with the Ad Standards Council, and expanded coordination with law enforcement and cybercrime agencies to address illegal online gambling.
“These numbers affirm the Philippines’ place as one of the fastest-growing and most important gaming markets in Asia,” Tengco said.
“The unprecedented and exponential growth of online gaming truly comes with success and revenues but, for us, our responsibility is to ensure that this sector’s growth comes not just with profit but with accountability, integrity and player protection,” he added.
