The Philippine Amusement and Gaming Corporation, or PAGCOR, wants to privatize its self-operated casinos. Accordingly, PAGCOR CEO and chairman Alejandro Tengco unveiled their plans to focus on their regulatory role.
Tengco assumed the position in August 2022. He started talks on the privatization of PAGCOR casinos. Also, he is considering the welfare of the casino workers. According to betting odds experts, PAGCOR is the Philippine gambling regulator. In addition, part of its mandate is to generate revenues for the government’s national development and socio-civic programs. Furthermore, it needs to promote the country’s tourism sector.
According to online gambling South Korea sources, PAGCOR operates casinos nationwide. Known as Casino Filipino, it has three casinos in Metro Manila, three in other parts of Luzon, and four in Visayas and Mindanao.
PAGCOR’s Self-Operated Casinos
PAGCOR’s gaming activities accounted for P55.05 billion of its P58.96 billion in revenue in 2022, a 66.16 percent rise from 2021’s P35.48 billion.
With the transition to a purely regulatory role in the works, Tengco said that talks had taken place about establishing regulatory frameworks for online poker activities and other facets of the gaming industry.
Efforts to discourage non-compliance and engagement in illegal operations by foreign casino operators and their service suppliers are also being studied, along with adjustments to fines processing.
According to Tengco, the Licensing and Regulatory Group has finished initiatives, including updating the suppliers’ regulatory handbook, drafting the Gaming Employment License laws on the ban on entry, stay, or play, and implementing rules and guidelines for foundations.
In response to criticism of Philippine Offshore Gaming Operators, PAGCOR has likewise revised its rules and regulatory frameworks for online gambling (POGOs).
PAGCOR has also stated that it intends to broaden the scope of its authorized gaming options and products, which now include eSports, Live Dealer Games, Online Horse Racing, and Online Arcade. It also consists of the best online slot machines in Korea.
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