- DAP will assist PAGCOR with GCG compliance prior to the casino sell-off
- The agency plans to privatize all of its casinos to focus on its role as a gaming regulator
- PAGCOR boss Alejandro Tengco said they are aiming to complete the process by 2025
The Philippine Amusement and Gaming Corporation (PAGCOR) has taken the next step towards the privatization of its casinos by entering into a partnership with the Development Academy of the Philippines (DAP), a government-owned corporation tasked with helping agencies perform their development roles and mandates efficiently and effectively.
DAP to Provide Technical Assistance to PAGCOR for GCG Compliance
According to PAGCOR Chairman and CEO Alejandro Tengco, DAP will assist them in the implementation of a Compensation and Position Classification System (CPCS) which is one of the requirements laid out by the Governance Commission for GOCCs (GCG). The regulator needs to comply with this requirement to push ahead with its planned casino sell-off.
Additionally, DAP will also be involved in the facilitation and conduct of training for PAGCOR officers and staff which is aimed at improving their skills and competencies as part of the agency’s reorganization, Tengco added.
DAP and PAGCOR’s new partnership was made official on September 12 during the signing of the Memorandum of Agreement (pictured) by key officials from both agencies, including Tengco (seated, 2nd from left), DAP President and CEO Atty. Engelbert Caronan, Jr. (seated, 2nd from right) , PAGCOR Vice-President for Human Resource and Development Group Angelito Domingo, and DAP Vice-President for Mindanao Dr. Mark Lemuel Garcia. The event was held at the New Coast Hotel in Manila.
Caronan thanked PAGCOR for its trust in DAP, saying they are all set to provide technical assistance to the regulator to make it GCG-compliant and help with its reorganization efforts.
Tengco first announced plans to privatize PAGCOR’s casinos back in March, with the sell-off initially projected to generate PHP 80 billion (US$1.41 billion). The agency currently operates more than 40 casinos under the Casino Filipino brand. The main purpose of the proposed privatization is to enable PAGCOR to focus on its role as the country’s gaming regulator.
PAGCOR to Shift to Regulator Only Role by 2025
Tengco confirmed that they have already started preparing for the transition and are aiming to get things done by 2025. PAGCOR’s decision to let go of its role as a casino operator and shift to just being a gaming regulator will “level the playing field” and ensure growth and viability for all gaming operators.