PAGCOR to Enhance Casino Filipino with 2,000 New Slot Machines

In an exciting move set to elevate the gaming experience, the Philippine Amusement and Gaming Corporation (PAGCOR) is poised to enhance its Casino Filipino venues with the addition of nearly 2,000 new slot machines by mid-September. This significant expansion is a part of PAGCOR’s order of a total of 3,341 slot machines, marking a strategic initiative to modernize gaming facilities and attract more foot traffic, thus boosting profitability.

Alejandro H. Tengco, the Chairman of PAGCOR, emphasized the importance of this initiative as the organization gears up for the planned privatization of PAGCOR casinos. Tengco highlighted the modernization of facilities and equipment as a critical step in increasing the value of these casinos, making them more appealing to prospective investors. “As we prepare for the planned privatization of PAGCOR casinos, we intend to increase their value by modernizing our gaming facilities and equipment to make them more attractive to potential investors,” he stated.

This move is not only about enhancing customer experience but also about setting the stage for a smooth transition towards privatization, slated to begin in May 2025. Encompassing 45 properties, this process is expected to generate substantial revenue, with projections of PHP81.27 billion ($1.44 billion) in gaming revenue for 2024, marking a 2.4 percent increase from the previous year.

PAGCOR’s commitment to this transformation was initially revealed during the ASEAN Gaming Summit, where Tengco laid out plans to privatize all PAGCOR-operated casinos to solely focus on its regulatory functions. By implementing new electronic gaming machines and adhering to updated technical standards, PAGCOR aims to solidify its position in the gaming industry while ensuring sustained growth in the electronic gaming segment.

A significant aspect of this transition is PAGCOR’s anticipation of generating upwards of PHP60 billion ($1.06 billion) from the sale of its self-run casinos. However, the privatization process is not expected to significantly impact the nation’s overall gross gaming revenue (GGR), according to analysts.

Foreign investors looking into these opportunities will have to consider the 60 percent local ownership mandate. However, as Tengco pointed out earlier, partnering with Filipino stakeholders might be the key to navigating these requirements.

The ongoing developments reflect PAGCOR’s strategic focus on aligning its operations with international standards, thereby ensuring that Casino Filipino remains a leading name in the regional gaming industry. As the organization awaits the delivery of these new slot machines, the Filipino gaming landscape is set for a remarkable evolution, attracting both local and international gaming enthusiasts.