Sale of Pagcor casino pushed back to 2026

 The head of the Philippine Amusement and Gaming Corporation (Pagcor), Alejandro Tengco, said that the casinos will start to be sold in 2026.  Lawmakers have told the regulator to sell the homes.

 Its head has said that the Philippines Amusement and Gaming Corporation (Pagcor) will start selling off its gambling assets in 2026.

 The news came from Pagcor's chairman and CEO, Alejandro Tengco, at a gaming conference in Manila on September 10.  "We have been very clear from the start that we only want to focus on Pagcor's role as a regulator," he said.

 He also said that the move would "level the playing field" for everyone involved and keep Pagcor from going up against its own clients.  It was planned for the sale to start in 2025.

 There are up to 45 Pagcor gaming rooms on the block.
 A lot of politicians have said that Pagcor's job as both a regulator and a casino operator is a clear conflict of interest.

 The regulator is in charge of 45 betting halls, nine of which are called Casino Filipino.  Tengco thinks the body will make ₱50bn ($891m, £682m, or €807m) from the deal.

 For now, Pagcor will keep improving the Casino Filipino sites by adding new betting equipment to make them more valuable.  It will add 2,000 new slots to the betting halls this month. All of the halls are on leased land.

 Tengco said, "With all of these plans and initiatives, we are sure that the Philippines will continue to be at the forefront of gaming industry innovations in the Asia-Pacific region." 

 Kevin Tan, one of the richest men in the country and a gambling mogul, praised the sale.  "This will encourage fairness among industry players and make sure the gaming sector can stay open and grow for a long time," Tan said.  Alliance Global Inc., which runs Newport World Resorts in Manila, is owned by the billionaire.  AGI is also building luxury casinos in Cebu and Boracay.

 Tengco says he will help casino workers.
 Tengco has promised to help casino workers who have to leave because of the sale.  He said that winning bidders will have to keep between 50 and 70 percent of the present staff.  Other workers will get money to help them leave their jobs.

 However, Pagcor needs to change its code before the sale can happen. This will happen sometime next year.