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The year ahead - Andrew Klebanow

I think the Philippines remains an intriguing story in 2017. President Duterte’s call to PAGCOR to privatize its casinos was a wise decision, although that decision was driven more by the President’s sense of morality rather than a purely business decision.

PAGCOR’s dual role as operator and regulator has traditionally discouraged outside investment. PAGCOR branded casinos also have been starved of capital re-investment as the agency strove to upstream as much revenue to the central government to support its mission of generating funds for nation building.

The value of those PAGCOR properties could be significant, particularly if private operators re-invested and improved the quality. If PAGCOR can appropriately value its casino properties based on future cash flows, it will be able to maximize the value of those assets while attracting operators more adept at operating casinos. The challenge is mitigating any uncertainty for those operators. Duterte’s call to arrest casino operator Jack Lam is an example of that uncertainty.

Note from Andrew Klebanow, Global Market Advisors. 

Other notes from: 

Augustine Vinh, president and CEO of Stellar Management

Ben Lee, managing partner of IGamiX Management & Consulting

David Green, CEO of Newpage Consulting

Ebbe Groes, CEO of EveryMatrix

Harmen Brenninkmeijer, managing partner at Dynamic Partners

Jay Sayta, founder of Glaws.com

Michael Zhu, vice president, operations, planning, analysis of Innovation Group

Mike Santangelo

Sam Sheng, director of Double Square Consulting

Steve Gallaway, Global Market Advisors

Sudhir Kale, CEO of GamePlan Consulting

Tim Shepherd, co-founder and president of business development at Silver Heritage Group

More news from this jurisdiction

PhilippinesMonday, Jan 15, 2018

A retired military general is set to fill the position left by Philippine Charity Sweepstakes Office (PCSO) chairman, Jose Jorge Corpuz, who retired last week.

PhilippinesSunday, Jan 14, 2018

President Rodrigo Duterte on Thursday held a meeting with the top executives of Melco Resorts and Entertainment.

PhilippinesSunday, Jan 14, 2018

Chairman of the Philippine Charity Sweepstakes Office Jose Jorge Corpuz has resigned from his position as chairman, according to an announcement on Friday.

PhilippinesThursday, Jan 11, 2018

Philippine Amusement and Gaming Corporation (PAGCOR) has launched a second auction for two parcels of land occupied by Bloomberry’s Solaire Resort and Casino.

PhilippinesThursday, Jan 11, 2018

Philippine police have rescued a Taiwanese man from a kidnap-for-ransom gang in Paranaque City, local media reports.

PhilippinesMonday, Jan 08, 2018

The Philippines’ national tax think-tank has recommended an increase in the entrance fees required for players to enter casinos in the country, and to make their collection compulsory.

PhilippinesSunday, Jan 07, 2018

Philippine casino operator Travellers International Hotel Group has announced it has formalized an agreement with Hotel Okura Co., Ltd for it to operate a new 191-room hotel at Resorts World Manila.