The privatization of casinos operated by Philippine Amusement and Gaming Corp. (Pagcor) may start as early as next year, according to comments from Finance Secretary Carlos G. Dominguez III.
First on the radar are 17 Casino Filipino locations, said Dominguez, speaking to local media.
“We are working on the Pagcor deal, the first item is those casinos being operated directly by Pagcor, I think those should be privatized first,” said Dominguez.
Dominguez said they were currently conducting studies to determine each casino’s respective valuation.
“That should be one by one because every casino is very different from the other,” the finance chief said, adding that they wanted to complete the studies by the end of the year.
“And then, we’ll figure out the method of privatization” for each one, he said.
Dominguez said the privatization of Pagcor’s casinos could take several years.
“It’s not going to happen overnight and the deals are quite complex so we have to piece it out and see what is the best deal for the government.”
Pagcor earlier said that it would support the Finance department’s plan to privatise all government-owned casinos, which total at 46.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264