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U-turn? PAGCOR to become pure regulatory body by 2025

Updated:2024-03-30 09:25    Views:176

The Philippine Amusement and Gaming Corporation (PAGCOR) is in the process of transitioning towards becoming a purely regulatory body. Previously, PAGCOR worked as both an operator and a regulator, but now wishes to focus all of its efforts solely on regulation.

During a recent event, where PAGCOR Chairman Alejandro H. Tengco was the keynote speaker, he announced PAGCOR’s plan to shift to a purely regulatory function. 

Interestingly, this announcement comes just a few months after PAGCOR revealed it was going to launch its online casino called Casino.Filipino.com, during Q1 2024. 

The reason for PAGCOR’s shift is part of the agency’s goal to “level the playing field and ensure future growth and viability for all gaming industry players."

“We have started preparing for this transition in earnest and we are starting where it matters most – within PAGCOR itself,” Tengco commented, adding that the process should be completed by 2025.

However, following the news of its rebrand and public warning about fake online gambling sites,Free games the body clearly wants to prioritise its regulations over anything else right now.

Despite the positive outcomes that could arise from taking itself out of the operator market, the shift could impact some employees in the industry, so PAGCOR will be crafting plans to avoid displacement, especially in PAGCOR-operated casino’s.

“We have been going around the country during the past few months, holding town hall meetings with our employees. We tell them there is no reason to worry because we have plans in place to mitigate, if not totally avoid, any personnel displacement.”

The PAGCOR Chairman also said the body is “making necessary changes in its corporate structure, business processes and procedures to make it more responsive and competitive.”

Transition plans include moving into a single corporate office to enhance coordination, efficiency and performance as well as modernising existing casinos to attract more players.