Pagcor Expects GCG Recommendation This Month on Casino Filipino Decoupling
Pagcor awaits a GCG recommendation this month on decoupling Casino Filipino, with a potential 2027 operator exit and privatization raising at least PHP20 billion.Summary
Pagcor expects the Governance Commission for Government-Owned or Controlled Corporations (GCG) to recommend this month on decoupling Casino Filipino from Pagcor, with a potential operator exit by the third or fourth quarter of 2027. The privatization of the state-owned Casino Filipino venues could raise at least PHP20 billion, as the chain posted approximately PHP6 billion in losses last year, projected to reach PHP7 billion in 2026. Pagcor chairman Alejandro Tengco cited licensee interest and market headwinds, noting that 2026 gross gaming revenue may fall short of the PHP400 billion target amid economic downturn and Middle East conflict. Pagcor's net income could drop below PHP5 billion from nearly PHP17.5 billion in 2025. Additionally, a Supreme Court ruling requires Pagcor to remit 5 percent of gross revenue to the Philippine Sports Commission retroactive to 1993, increasing monthly payments from PHP180 million to PHP400 million. The GCG's recommendation will determine whether the restructuring advances, contingent on finding viable buyers and securing government approval.
(Source：Sccg Management)