Government to privatize casino assets

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.