PAGCOR plans to privatize more casinos 

Philippine Amusement and Gaming Corp. (PAGCOR) Chairperson and Chief Executive Officer Alejandro Tengco said more stringent measures and privatizing PAGCOR-operated casinos would strengthen the local gaming industry amid growing competition, particularly now that Thailand is planning to legalize gambling, according to a report by Philippine News Agency.

In a recent briefing, Tengco admitted that Thailand’s move poses a “big threat” to the Philippines, currently Asia’s second-largest gaming destination after Macao.

The local gaming industry's revenues hit a record high of PHP410.5 billion last year.

"Thailand is seriously considering the licensing of casinos, land-based, and online gambling. Japan is also opening a casino," said Tengco.

According to Tengco, Thailand has a great advantage given the huge number of tourist arrivals in the said country.

"That's why I said we should fix this because competition is arriving, it would be good if we are ahead of the competition," he said in Filipino.

To stay competitive, the gaming regulator is enforcing stricter regulations, urging lessors to renovate outdated casinos, and introducing nearly 2,000 modern slot machines.

Tengco also reaffirmed PAGCOR’s plan to shift solely to a regulatory role, eliminating conflicts of interest.

"By decoupling, we will be able to show the world that we are fair, that there is no conflict of interest," he said.

PAGCOR targets to start the privatization of over 40 casinos next year.