PAGCOR’S ONLINE CASINO TO BE LAUNCHED IN Q4 2024, SAYS TENGCO’S EXECUTIVE DIRECTOR
Alejandro Tengco of the Philippines aims to launch its own casino brand, casinofilipino.com , by the end of the year, according to Alejandro Tengco, chairman and CEO of Pagcor.
“We’re already talking to our possible joint venture partners. Of the three companies we’ve talked to, I’ve already chosen one,” Alejandro Tengco said. “Maybe within July, I can already make a presentation about who our partners are,” he added.
Tengco is optimistic that the casino platform will operate by the last quarter of 2024, provided that negotiations go smoothly without unexpected problems. The announcement was made during an interview with GGRAsia at the Global Game Expo (G2E) Asia in Macau.
The online casino initiative will be a joint venture with a well-known company in the online gaming sector in the Philippines. “It’s not just any company, but I’ve made the conscious effort that I have to be a named and very reliable person in the online gaming world so that there’s no longer a learning curve,” Tengco observed. He stressed that Pagcor’s online casino establishment is consistent with the agency’s broader strategy, which includes privatizing its operations.
Pagcor has already begun upgrading its Casino Philippines locations, including the purchase of more than 3,000 new slot machines. This modernization is seen as a preliminary step toward selling the Casino Philippines chain. Pagcor’s goal is to stop operational and focus solely on regulatory responsibilities.
“My intention here is to privatize all land-based businesses under the Casino Philippines brand in phase one, establish casinofilipino.com , and then privatize online brands in phase two,” Tengko noted. The overall privatisation process “is expected to begin at the earliest in the last quarter of 2025, or at the latest in the first quarter of 2026,” Pagko confirmed.
Casino Filipinos operate more than 40 locations and satellite casinos at leased locations throughout the Philippines. “The process of privatizing our land-based business cannot take place overnight,” Tengco explained. “So, while the process of privatizing our land-based business is in progress, in parallel, we plan to launch casinofilipino.com , and hopefully we can derive good value for it.”
He added that revenue generated from online casinos would improve the overall value of Pagcor’s privatization efforts, benefiting both the agency and the Philippines. Asked about the deadline for completing privatization, Tengco said it hoped to complete it by the end of Pagcor’s term as chairman and CEO, which extends through 2028.
The renovation is under way
Tengko also noted that an agreement had been reached on renovations of all rental buildings housing the Casino Philippines venue, with at least three owners already starting renovations at other standalone locations.
Pagcor acquired 1,968 slot machines from casino equipment supplier and distributor RGB International Bhd. The total value of the contract is just over US$81.3 million, with the new units due for delivery in July.
“This slot machine is the same machine used by all integrated resort licensees,” Tengko noted. The order includes electronic game consoles from various third-party brands, including 888 units from Light & Wonder, 888 units from aristocrats, 150 units from Konami and 42 units from KL Saberi.
In addition, Pagco plans to strengthen its game table offerings by acquiring a new casino management system. “Once the upgrades and renovations are complete, we expect our casinos to attract more players and customers, and make our casinos more attractive to potential investors once we start selling them,” Tengco said.
Tengko added that out of a total of 3,345 slot machines Pagko is planning to buy, the secondary procurement will begin “before the last quarter of the year.” He noted that details of the privatization process are still being formulated, which could include “guarantees of jurisdiction,” such as a certain period of exclusivity for those who acquire the Casino Philippines branch. “Once we become pure regulators, you can expect a more dynamic and more profitable Philippine gaming industry with a higher level of stadiums that promote fair competition and equitable growth,” he concluded. 프라그마틱 슬롯 사이트
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