The Philippine Amusement and Gaming Corp. (Pagcor) yesterday debunked reports circulating on social media on the agency’s privatization plans.
Alejandro Tengco, Pagcor chairman pointed to a social media post that it was planning to spend P500 million to renovate its Casino Filipino branch in Angeles City.
Tengco said the lessor, and not Pagcor, will shoulder the cost of the renovation.
Tengco said the renovation of the Angeles branch is part of Pagcor’s commitment to provide better facilities and services to attract more customers and therefore ensure the profitability of its operations.
He said Pagcor is a mere lessee of the building where the casino is located.
He also belied claims a total of 10,000 employees will lose jobs in the privatization.
“That number is very misleading because the 10,000 employee count is our total workforce. We are not disbanding Pagcor; we are only shedding off our casino operations but many workers will remain in regulatory, enforcement, monitoring and electronic gaming licensing units, to name a few,” he said.
Tengco said the privatization of Pagcor casinos will start in the last quarter of 2025 at the earliest, which will give the agency enough time to provide safety nets to those who will be affected.
