Your Daily Asia Gaming eBrief: PAGCOR casino sale not seen viable as fundraiser

Casino Filipino,Cebu, PAGCOR

Good morning. PAGCOR’s dual role as both a regulator and operator of casinos (mostly under the Casino Filipino brand) has been a long-standing subject of debate. However, industry observers say it is not currently the right time for PAGCOR to sell off its casinos. Our Deep Dive this morning gives the latest update on PAGCOR’s casino privatization plans. 


What you need to know

  • Kangwon Land earnings are likely to rebound strongly once operating restrictions ease and sales will beat pre-pandemic levels, NH Investment & Securities analyst Hazel Lee writes.
  • Casinos in Goa will be allowed to reopen today, allowing those who are fully vaccinated, or provide a negative Covid-19 test to enter.
  • Federal Group has opposed new draft legislation that would see an end to its monopoly license in Tasmania.
  • NagaWorld reopened as of September 15 after more than six months of closure, Chairman says.

On the radar

What the papers say

AGB Intelligence


DEEP DIVE

PAGCOR casino sale not seen viable as fundraiser

The Philippine government is seeking to extract as much revenue as possible from its gaming industry to repair the Covid-ravaged economy, but selling off the PAGCOR casinos is not seen as a viable option. The Philippine Amusement and Gaming Corp. (PAGCOR) is both the industry regulator and casino operator in its own right, with about 40 properties scattered across the country, operating mostly under the Casino Filipino brand.

INDUSTRY UPDATES


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  • SJM Resorts uses film and TV to promote Macau tourism 
  • Melco sustainability strategy recognized by PATA and IGA
Asia Gaming Briefings, September 2021

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