Good Morning. PAGCOR’s newly appointed chair would consider a regulatory role, for both online and land-based gaming. As for the 40 Casino Philippino operations, the best thing would be to privatize. While Tengco requested “time to study,” the House Deputy Speaker suggests a Casino Gaming Regulatory Authority. Despite a drop in visitation, Vegas hits the pre-covid mark.
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What you need to know
- PAGCOR would continue to regulate both online and land based gaming, and the best thing would be to privatize casino operations, newly appointed Chair Tengco said as he asked for “time to study” the agency’s role.
- Deputy Speaker Rodriguez proposes creating a Philipines Casino Gaming Regulatory Authority rather than sell PAGCOR’s “Golden Goose” of remittances in support of social programs.
- Las Vegas hit pre-COVID mark but, despite increased visitations, July GGR was down 2 percent at $773.4 million against $792.6 million in 2021.
On the radar
- South Korea’s POSCO to oversee Hann Resorts expansion.
- Andrew Lo ascends to chairman of Suncity’s rebranded LET.
ON THE GROUND
PAGCOR Chair considers online, landbased regulatory role,
requests “time to study” before committing to privatization
Newly appointed Chairman and Chief Executive, Alejandro Tengco, has requested “time to study” PAGCOR regulator-cum-operator roles before considering the privatization of the 40 casinos the agency runs across the country. In the event of separation of roles, Tengco stated that PAGCOR’s would remain the regulating agency for both online and land based gaming. Regarding the land-based operations, “the best thing that we could foresee is to privatise them.”
- Hann signs for first PGA affiliated course in the Philippines.
- Konami promotes Gerard Crosby to SVP & Chief Games Officer.
- SJM earns top honors from Wine Spectator Awards 2022.