The Philippine Amusement and Gaming Corporation (PAGCOR) says that false information was spread regarding its privatization plans, namely around the revamp of its Casino Filipino venue in Angeles City.
In a statement, the agency notes that the spread of disinformation has led to undue demoralization among employees.
PAGCOR Chairman and CEO, Alejandro H. Tengco, specifically cited a social media post by an employee, surnamed Samson, who claimed that PAGCOR planned to spend PHP500 million ($8.9 million) to renovate its Casino Filipino branch in Angeles City.
“There is absolutely no truth to Mr. Samson’s allegations because the renovations will be fully shouldered by the lessor,” Chairman Tengco said. “PAGCOR will not spend a single centavo on the renovation.”
In his post, Samson stated that the renovation plan aimed to spruce up the branch to attract prospective buyers when it is privatized.
Chairman Tengco explained that the renovation of the Angeles branch is part of PAGCOR’s commitment to providing better facilities and services to attract more customers, ensuring the profitability of its operations.
“We do not own the building where CF Angeles is located; that is why we made arrangements with the lessor to shoulder the renovation expenses because they are the property owner, and PAGCOR is just the lessee,” Chairman Tengco said.
“This is the same arrangement we are pursuing with our Casino Filipino branch in Bacolod as part of our overall efforts to make our casinos more attractive to customers, benefiting all of us at PAGCOR, as well as the government,” he added.
Chairman Tengco further noted that the privatization of PAGCOR’s casinos is expected to begin in the last quarter of 2025 at the earliest, allowing the agency time to provide proper measures for those affected.
He also debunked the claims that 10,000 employees would lose their jobs in the privatization.
“That number is very misleading because the 10,000 employee count represents our total workforce,” he clarified. “We are not disbanding PAGCOR; we are only divesting our casino operations, while many workers will remain in regulatory, enforcement, monitoring, and electronic gaming licensing units, among others.”
“I thus appeal to our employees not to believe all the lies being peddled by some disgruntled individuals,” Chairman Tengco urged. “We are here to safeguard your welfare, but you need to allow us to do our job.”
PAGCOR first announced its privatization plan last March, aiming to transition to a “purely regulatory” body.
The agency is looking to raise PHP80 billion ($1.4 billion) from the sale of its network of small, state-owned casinos.
