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PAGCOR puts up land for sale, gaming not included

The Philippine Amusement and Gaming Corp. (PAGCOR) is planning to sell three lots of land in Laguna, Dasmarinas City, and Parañaque City, but said that the right to operate a gaming operation will not be part of the sale. 

According to an advisory posted on its website, Lot One is a 16,335 square meter parcel of land at the Balibago Complex, Sta. Rosa City, Laguna, with a floor price of P392.0 million. 

Lot Two consists of three contiguous lots with a total area of 3,249 square meters, located in Sitio Bucal, Dasmariñas City, with a floor price of P12.7 million.

The third lot is a 14,889 square meter parcel of land at Asiaworld in Barangay Don Galo, Parañaque City, with a floor price of P2.7 billion.

Pagcor said the disposal of the properties will on an “as is - where is” and on a “cash” basis. 

Prospective offerors must be Filipino citizens, and in the case of a corporation or partnership, 60 percent of its capital must be owned by Filipino citizens. 

The gaming regulator has also stipulated that ownership of the property does not confer the right to operate gaming facilities and businesses.

“A casino license or license to operate gaming operations is NOT part of the sale of the property. Hence the winning bidder of the Property shall neither have the right nor authority to operate a casino or any other gaming operation,” said PAGCOR. 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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