The sale of Philippine Amusement and Gaming Corporation (Pagcor) casinos has been pushed back to 2026, as announced by the government’s Department of Finance. The decision to delay the sale was made in light of the ongoing challenges faced by the gaming industry amidst the global pandemic.
Pagcor, the regulatory body and operator of all casinos in the Philippines, was originally set to be privatized in 2022 as part of the government’s plans to increase revenue and attract more foreign investment to the country. However, the timeline has now been extended by four years due to the economic downturn caused by the Covid-19 crisis.
Finance Secretary Carlos Dominguez III stated that the sale of Pagcor casinos will be postponed until financial conditions are more conducive for investors. He explained that the government is currently focused on supporting the recovery of the gaming sector and ensuring the sustainability of its operations.
The decision to delay the privatization of Pagcor has received mixed reactions from industry experts. Some believe that the postponement is necessary to protect the stability of the gaming industry in the Philippines, while others argue that the delay could hinder the government’s efforts to attract foreign investors and boost economic growth.
Despite the setback, Pagcor remains optimistic about the future of the gaming sector in the Philippines. The regulatory body has recently introduced online gaming initiatives to adapt to the changing business landscape and attract a new generation of players. The iGaming sector, in particular, has seen significant growth in recent years and is expected to play a key role in driving the recovery of the industry.
Pagcor’s decision to focus on online gaming comes as no surprise, given the increasing popularity of digital platforms and the rise of mobile gambling. The regulatory body is exploring opportunities to expand its online offerings and collaborate with leading iGaming providers to enhance player experience and generate additional revenue.
As the gaming industry in the Philippines continues to evolve, the postponement of the sale of Pagcor casinos to 2026 highlights the government’s commitment to supporting the recovery and growth of the sector. While the delay may pose challenges for investors and stakeholders, it also presents opportunities for innovation and collaboration in the emerging iGaming market. The future of the gaming industry in the Philippines remains bright, with Pagcor leading the way towards a more vibrant and sustainable gaming ecosystem.