PAGCOR, the Philippine Amusement and Gaming Corporation, is undergoing a significant transformation, with plans to shift its focus entirely to regulatory functions by 2025.
PAGCOR Commits to Employee Security Amid Regulatory Transition
At a recent event where Alejandro H. Tengco was a keynote speaker, he elaborated that the motivation behind the decision to transition to a purely regulatory role lies in PAGCOR’s dedication to equalizing opportunities and securing the future growth and sustainability of all gaming industry participants. This strategic move comes on the heels of PAGCOR’s earlier announcement to launch its online casino platform, Casino.Filipino.com, in the first quarter of 2024.
While the move toward regulation is aimed at benefiting the industry as a whole, it may have implications for some employees within the gaming sector. To address potential job displacement, especially in PAGCOR-operated casinos, the agency is actively formulating plans to mitigate these impacts.
Tengco emphasized that PAGCOR values its employees as its greatest asset and has been conducting town hall meetings across the country to reassure them. He stressed that there is no need to worry, as measures are in place to minimize if not entirely avoid, personnel displacement.
PAGCOR Aims to Achieve Gold Standard in Asian Gaming Through Regulation
In addition to focusing on its regulatory role, PAGCOR is making essential changes to its corporate structure, business processes, and procedures to enhance its responsiveness and competitiveness. These changes include consolidating into a single corporate office to streamline coordination and efficiency.
PAGCOR’s move towards privatization is expected to extend to its gambling operations, including the Casino Filipino chain of casinos that currently operates in eight locations across the Philippines. The agency’s commitment to regulatory oversight remains a priority, with the goal of ensuring the continued integrity and growth of the gaming industry in the region.
PAGCOR also initiated an extensive upgrade program for its self-operated casinos ahead of privatization. PAGCOR Chairman Alejandro H. Tengco unveiled three key initiatives, including modernizing its infrastructure, upgrading Electronic Gaming Machines (EGMs), and emphasizing the benefits of privatization to enhance the corporation’s competitiveness and regulatory capabilities.
Tengco expressed confidence in PAGCOR’s potential to become a gold standard in the Asian gaming scene as it shifts its focus to regulation. This transformation coincides with recent efforts to establish new rules for offshore gambling in the Philippines, aimed at addressing illegal offshore activities within the country.