The Philippines government said it plans to privatize more assets over the next three years, including casinos run by Philippine Amusement and Gaming Corp. (Pagcor).
Finance Secretary Carlos Dominguez III said the Duterte administration also planned to privatize the Philippine Postal Bank and the United Coconut Planters Bank.
“Yes, there will be more assets to be unloaded,” said Dominguez, quoted by local media.
The talk for privatization has been around for some time.
In 2010, Aquino’s administration said splitting the company’s regulatory and operations functions would be “a good direction.”
At the time, Pagcor chairman Cristino Naguiat said it would be up to the next government to decide if the state-run casinos should be privatized.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Covid-19 forced the rapid and unexpected closure of venues across Australia, changing the operating environment with unprecedented speed and leaving managers scrambling to adapt...
Galaxy Entertainment Group told Macau News Agency that recent wage dispute involving workers employed at its Cotai expansion projects, originated from fee disputes between the workers and mainland employment agencies.
MGM Resorts has thrown its cards into the online gaming ring, with an attempt to buy U.K.-listed Entertain for GBP11.3 billion ($15.4 billion), which may reshape the group and reduce its focus on Asia in the longer term.
MGM Resorts has announced that Jonathan Halkyard will become Chief Financial Officer for the global gaming, hospitality, and entertainment organization. Halkyard is a senior corporate executive who spent 13 years in leadership roles at Caesars Entertainment and was more recently the President and Chief Executive Officer of Extended Stay America, Inc. and ESH Hospitality.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
