2,000 New Slot Machines to Arrive at PAGCOR’s Casino Filipino
The Philippine Amusement and Gaming Corporation (PAGCOR) is preparing for the arrival of nearly 2,000 new slot machines for its Casino Filipino locations by mid-September.
PAGCOR’s Casino Filipino venues to receive 2,000 new slot machines.
LISTEN TO THIS ARTICLE:The machines are part of a larger order of 3,341 slot machines, which is intended to update the gaming facilities. PAGCOR Chairman Alejandro H. Tengco explained that the new slot machines are part of the preparations for the privatization of PAGCOR casinos. He said that they are expected to attract more visitors and boost the venues’ profitability.
As we prepare for the planned privatization of PAGCOR casinos, we intend to increase their value by modernizing our gaming facilities and equipment to make them more attractive to potential investors.
PAGCOR to Focus on Solely Regulation
Last July, during a visit to Macau, Tengco announced PAGCOR’s plans to modernize its electronic gaming machines as well as its Technical Standards for Electronic Gaming Machines.
At the ASEAN Gaming Summit in March of the previous year, PAGCOR revealed its intention to privatize all of its casinos in order to allow the organization to focus solely on its regulatory responsibilities.
It is expected that PAGCOR will offer the existing operators of Casino Filipino properties the ‘right of first refusal’ during the privatization process. Foreign investors interested in the casino projects will need to meet a 60% local ownership requirement. While there are ways to work around this rule, Tengco indicated that partnering with a Filipino entity may be the most straightforward path.
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Privatization to Begin in May 2025
The privatization process is expected to begin in May 2025 and will include 45 properties. The gaming venues are projected to bring in around PHP81.27 billion ($1.44 billion) in revenue this year, a 2.4% annual increase. However, the privatization is not expected to impact the country’s overall gross gaming revenue (GGR) in any meaningful way.
PAGCOR estimates that selling off its government-run casinos will generate approximately PHP60 billion ($1.06 billion).
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