The Philippine Amusement and Gaming Corporation has declared that it is transitioning to become solely a gambling regulatory agency, moving away from its dual role of an operator and a regulator.
Alejandro H Tengco, CEO and Chair of PAGCOR, stated that the move, to be completed by 2025, has been put in place to fulfil the corporation’s aim of levelling the playing field to “ensure future growth and viability for all gaming industry players”.
“We have started preparing for this transition in earnest, and we are starting where it matters most – within PAGCOR itself,” said Tengco.
Knowing its strengths and limitations, Tengco remarked that PAGCOR aims to become “the gold standard in the Asian gaming scene,” and while it recognises that the shift could impact some employees, it is preparing plans to help those affected avoid displacement, especially those that work in PAGCOR-operated casinos.
Tengco noted: “We have been going around the country during the past few months, holding town hall meetings with our employees. We tell them there is no reason to worry because we have plans in place to mitigate, if not totally avoid, any personnel displacement.
“You will be surprised to know how people react to our plans, and how they express their trust in our process.”
PAGCOR is making “necessary changes” to its corporate structure, business processes and procedures to be “more responsive and competitive”, including a move into a single corporate office and modernising casinos to improve the player experience, making them a more attractive asset for future sales.
New regulations for international gaming licensees have also recently been implemented by PAGCOR to help reduce and eliminate illegal activities.
