{"id":5469,"date":"2023-08-15T07:11:50","date_gmt":"2023-08-15T07:11:50","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/08\/15\/pagcor-aims-for-p60-p80-billion-in-monumental-privatization-move\/"},"modified":"2023-08-15T07:11:50","modified_gmt":"2023-08-15T07:11:50","slug":"pagcor-aims-for-p60-p80-billion-in-monumental-privatization-move","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/08\/15\/pagcor-aims-for-p60-p80-billion-in-monumental-privatization-move\/","title":{"rendered":"PAGCOR Aims for P60-P80 Billion in Monumental Privatization Move"},"content":{"rendered":"<div>\n<p>Alejandro Tengco, PAGCOR\u2019s Chairman and CEO, has made waves with his recent announcement to privatize 45 of the corporation\u2019s casinos by 2025\u2019s third quarter. \u201cDefinitely, my trust is to privatize the 45 casinos of PAGCOR and I\u2019m looking at 2025 as my timeline,\u201d he stated during the House of Representatives\u2019 national budget deliberations.<\/p>\n<p>His rationale? Tengco aims to heighten the assets\u2019 value, with the plan that privatizing them ensures this progression is unstoppable. \u201cMy goal is to increase the value of what we will privatize. This will keep going, it can\u2019t be stopped,\u201d he firmly expressed.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>PAGCOR\u2019s financial report, presented by Vice President Sharon Quintanilla, shows the corporation\u2019s promising trajectory. In 2022, the agency bagged \u20b158.96 billion ($1 billion). Expectations for 2023 are set at \u20b175.49 billion ($1.33 billion), with 2024\u2019s projections at \u20b180.28 billion ($4.72bn).<\/p>\n<p>Yet, not everyone is applauding this move. Cagayan de Oro Representative, Rufus Rodriguez, shared his reservations, commenting, \u201cIt seems that everything will be in order in the coming years, so why are we going to sell the goose that lays the golden egg?\u201d Rodriguez has plans to oppose the privatization, concerned about potential revenue losses.<\/p>\n<p>To make matters more complex, the Department of Finance (DOF) initially valued PAGCOR between P200 billion to P250 billion. However, Tengco, during a House committee hearing, clarified that PAGCOR doesn\u2019t own many of the real estate properties factored into that estimate, pegging the true value closer to P60 billion to P80 billion.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Tengco highlighted that PAGCOR merely leases properties for its casinos. The intent behind the privatization is to redefine PAGCOR solely as a regulator, aligning with international standards. Globally, gaming agencies running their casinos can be perceived as conflicts of interest, a stance Tengco wants to shift away from. In support of this, Para\u00f1aque\u2019s 1st District Representative, Edwin Olivarez, referenced data showing offshore operators performing better than PAGCOR-run establishments.<\/p>\n<p>PAGCOR\u2019s proactive stance against fraudulent activities is also notable. In light of approximately a thousand fake licenses in circulation, Tengco unveiled a redesigned logo to combat the deception, emphasizing a complete rebrand beyond just a logo switch.<\/p>\n<p>While the discussions heat up, there\u2019s no ignoring the corporation\u2019s potential. Tengco projected PAGCOR\u2019s annual revenue to soar to the P100-billion mark by 2025, with 2023 already on track to finish with a hefty P72 billion net income.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/pagcor-aims-for-p60-p80-billion-in-monumental-privatization-move\/\">PAGCOR Aims for P60-P80 Billion in Monumental Privatization Move<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Alejandro Tengco, PAGCOR\u2019s Chairman and CEO, has made waves with his recent announcement to privatize 45 of the corporation\u2019s casinos by 2025\u2019s third quarter. \u201cDefinitely, my trust is to privatize the 45 casinos of PAGCOR and I\u2019m looking at 2025 as my timeline,\u201d he stated during the House of Representatives\u2019 national budget deliberations. His rationale? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-5469","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=5469"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5469\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=5469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=5469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=5469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}