Philippine gaming regulator PAGCOR is planning to raise revenue by privatizing state-owned casinos. What is the latest progress on this plan?
PAGCOR recently revised its expected privatization proceeds to $106 billion, down from an earlier estimate of $150 billion, saying the move would help resolve its dual role as regulator and operator.
The head of PAGCOR said that $106 billion was a conservative estimate and the final price tag could be even higher. However, the industry is skeptical about such high revenue expectations.
Some members of the House of Representatives have also expressed opposition to privatization, fearing it could lead to a loss of public assets and weaken the prospects for long-term growth in gambling revenue.
PAGCOR has already started preparations for the privatization of the Philippine gaming industry, but there is still some uncertainty in the entire process. The industry calls on all parties to maintain an open and rational attitude and jointly promote the healthy and stable development of the industry.
Experts suggest that PAGCOR should carefully weigh the pros and cons of privatization and formulate feasible and specific plans.In addition, we should actively seek support from more political and social circles.
Whether the privatization of PAGCOR can be successfully implemented requires continued attention to its subsequent developments. But no matter what the result is, it will have a profound impact on the gaming industry in the Philippines.
