The Philippine Amusement and Gaming Corporation (PAGCOR) is targeting the third or fourth quarter of 2027 to complete its exit from casino operations. The timeline comes as plans to privatize Casino Filipino move forward.
Chairman and CEO Alejandro Tengco said the Governance Commission for Government-Owned or -Controlled Corporations (GCG) is expected to submit its recommendation on the proposed separation of PAGCOR's commercial and regulatory functions to the Office of the President within October.
Once approved, PAGCOR would proceed with the restructuring, allowing the agency to focus on regulating the gaming industry rather than operating casinos alongside private-sector licensees.
PAGCOR currently has 35 casinos within its network. Twelve are operated directly by the regulator, while another 23 operate through revenue-sharing arrangements with private partners.
The privatization is expected to raise between PHP20bn and PHP30bn, although Tengco said a final valuation has not yet been determined.
Interest has already emerged from existing gaming licensees, including major casino operators in Entertainment City. Tengco also expects current revenue-sharing partners to participate in the bidding process for properties they operate.
Among PAGCOR's wholly owned casinos, Cebu currently generates the highest revenue, followed by Tagaytay, Angeles, Davao and Malabon.
The restructuring also comes as Casino Filipino continues to report significant operating losses, driven largely by personnel expenses.
Tengco expects losses to reach at least PHP7bn this year, compared with approximately PHP6bn in 2025.
The planned privatization forms part of PAGCOR's wider effort to remove its dual role as both casino operator and industry regulator, with the agency expecting to be in a stronger position once the transition is completed.
Casino Filipino is expected to record losses of at least PHP7bn this year
