News From The Casino Scene

17 Pagcor Owned Casino To Go Private

17 Pagcor Owned Casino To Go Private

 The Department of Finance has decided on the number of government-operated casinos which are likely to go private the next year.

Carlos G. Dominguez III, Finance Secretary, has no intentions to withdraw the plans to sell the casinos that come under the Philippine Amusement and Gaming Corp. (Pagcor). Around 17 Casinos will be put on the auction in 2018.

Dominguez told reporters that they are working on the Pagcor deal and the first thing on the list is the casinos which are Pagcor operated, adding, “I think those should be privatised first”.

Dominguez further added that they don’t have the valuation. The situation is difficult as the operations are not vigorous, which would be figured out by its capacity. How many tables are there and how many visitors were there the last year, etc.

He indicated to  The Pagcor casinos are planned to be sold by location. The current Casino Filipino employees are assured that their jobs would not be affected by the sales. Dominguez made it clear that the privatisation would not significantly affect the government’s revenue.

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