Pagcor Casino Sale 2025, Start Price US$1.1 Billion: Tengco

The starting point expected to raise cash from the privatisation of the Philippine state casino chain is 60 billion PHP ($1.06 billion), 25% below what was mentioned when casino regulator Alejandro Tengco (file photo) announced some details of such a sale plan in March.

PHP 80 billion, as mentioned by Philippine Play and Game Company (Pagcor) Chairman Tengko in a March commentary, remains the top estimate of the casino Philippine brand’s public sector casino chain sales.

On Monday, the official addressed the price range in the House of Commons. It was during a House Appropriations Committee hearing on Pagko’s 2024 budget. Tengko even referred to mid-2025 as the starting point for the process, according to local media reports.

“The privatization of 45 properties at the earliest will take place in the third quarter of 2025,” he said.

He added that President Ferdinand Marcos Jr. approved the privatization plan. Tenko cited one motivation for ending his dual role as an operator and regulator of Pagkor.

“Pagco should be purely a regulator,” Mr. Tenko said. “We are the only regulator and operator in the world.”

“We give licenses, but we also operate, so it’s inappropriate and unethical,” he added.

Pagcor explained that the sale price range reflects a “minimum estimate.”

“We expect [the amount] to increase,” he said, as quoted by local media, as privatization would be subject to a competitive “bid.”

The chain operates in more than 40 locations and leased locations from third parties, so-called “satellite-casinos.”

The Philippine Treasury had previously suggested that the sale price of Pagco’s casino Philippine venues could be between 200 billion and 250 billion, but Mr. Tenko told a House committee hearing that the estimates influenced the valuation of some of the properties that were initially attributed to Pagco.

BY: 카지노사이트

Related Posts

Pagcor Cuts Betting Platform Fees Through April 1

Alejandro Tengco, president and chief executive of the Philippine gaming regulator, said the Philippine gaming regulator is set to cut licensing fees for “online and on-site betting platforms”…

MGM China Wynn Macao Ltd.’s Dividend Surprise

Two Macau casino operators each announced their annual dividends on Thursday for the first time since the 2019 trading year before the COVID-19 pandemic, according to what one…

Macau Casino GGR $1.8 billion on March 24

Citing industry inspection results, JP Morgan Securities (Asia-Pacific) said on Monday that Macau’s total casino gross gaming revenue (GGR) daily utilization for the first 24 days of March…

Actor Shin Hyun-joon, who is serious about sports for the disabled, challenges wheelchair basketball

Shin’s challenge is his second after para ice hockey, which he played with Captain Han Min-soo, the main character of the 2018 PyeongChang Paralympic bronze medal, in December…

Should I Fill Shohei Ohtani’s Vacancy with Votto?

Should I Fill Ohtani’s Vacancy with Votto? MLB Angels ‘Eating Mustard While Crying’ The Los Angeles Angels, who had to send Shohei Ohtani (29), who became a free…

KT Wes Benjamin, Who Returned 11 Runs to 11K

KT Benjamin, Who Returned 11 Rruns to 11K, “Successfully Took Revenge on Hanwha” KT Wiz foreign starter Wes Benjamin succeeded in getting revenge against the Hanwha Eagles. Benjamin…

Leave a Reply

Your email address will not be published. Required fields are marked *