Alejandro Tengco, the head of the Philippine Amusement and Gaming Corp (Pagcor), has stated that the transition of the organization from operational to regulatory functions is expected to be finalized by 2025. This shift aims to level the playing field and promote future growth and sustainability within the gaming industry.
Strategic Transition for Growth:
Pagcor’s move towards becoming a purely regulatory entity is part of a strategic initiative to enhance fairness within the gaming industry and create a more conducive environment for all players. Tengco expressed confidence in Pagcor’s potential to set the gold standard in the Asian gaming scene.
Plan to Sell State-Owned Casinos:
In March, Tengco had unveiled a plan for Pagcor to sell its network of small, state-owned casinos, aiming to raise up to PHP80 billion (US$1.41 billion). This plan aligns with the transition towards a regulatory-focused role.
Mitigating Impact on Employees:
Recognizing employees as a valuable asset, Tengco acknowledged that the shift might impact some employees. Pagcor is formulating plans to minimize displacement, especially in Pagcor-operated casinos that will be privatized. Town hall meetings have been held with employees across the country to address concerns and ensure a smooth transition.
Organizational Adjustments for Competitiveness:
Pagcor is actively implementing changes in its corporate structure, business processes, and procedures to enhance responsiveness and competitiveness. This transformation will enable Pagcor to effectively fulfill its regulatory responsibilities.
This strategic transition of Pagcor from operational to regulatory functions is a significant step that aims to foster a more competitive and equitable gaming industry in the Philippines. The organization’s commitment to mitigating the impact on employees showcases a thoughtful approach to managing this transition.