Home » Casinos News » Pagcor online casino to launch in fourth quarter of 2024: Tengco

Pagcor online casino to launch in fourth quarter of 2024: Tengco

A plan by the Philippine gaming regulator to launch its casino brand, casinofilipino.com, might happen by the end of this year, said Alejandro Tengco, chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), in comments to GGRAsia.

image 8

“We are already talking to our possible joint venture partner. In my mind, out of three companies that we’ve talked to, I already have one chosen,” stated Mr Tengco (pictured).

“Maybe within July, I will already [be able to] announce as to who our partner will be,” he added.

“Barring any unforeseen aspect and depending on the length of discussions or negotiations, I believe we will be able to launch casinofilipino.com in the last quarter of this year,” said the chairman.

He was speaking in an interview with GGRAsia on Thursday at the Global Gaming Expo (G2E) Asia in Macau.

Mr Tengco explained that the online platform project would be a “joint venture” with a company that is involved in the online gaming segment in the Philippines.

“It’s not just any company, but I have made a conscious effort that it should be somebody that has a name and is very credible in the online gaming world … so that there’s no more learning curve,” he observed.

The chairman said launching Pagcor’s online casino was “not contradictory” to the agency’s plan to privatize its operations.

The regulator has previously announced an upgrade to its network of Casino Filipino venues, including the acquisition of more than 3,000 new slot machines. The modernization effort was said to be a step before launching the sell-off initiative for the Casino Filipino chain. Such disposal was for Pagcor to end its operating functions so it could focus on regulatory work.

“My intention here is, phase one, to privatize all our land-based operations under the Casino Filipino brand, and then, after setting up casino filipino.com, move to phase two, the privatization of that [online] brand,” noted Mr Tengco.

The Pagcor head confirmed the agency plans to begin the overall privatization process “in the last quarter of 2025 at the earliest, or around the first quarter of 2026 at the latest”.

The Casino Filipino chain includes more than 40 branches and so-called ‘satellite casinos’, operating in leased venues from third parties.

“The privatization process of our land-based operations cannot be done overnight,” Mr Tengco told GGRAsia. “So, while this privatization process of our land-based operations is ongoing, on a parallel side, we plan to start casinofilipino.com, and hopefully derive good value for it.”

He added: “Whatever value we’ll be able to create in the privatization of the land-based casinos, we will be able to add more value after setting up casinofilipino.com, generating additional revenue not only for Pagcor but for the Philippines as well.”

related articles: 5 Legal Online Casino Sites in the Philippines

Procedures and deadlines

Asked about a deadline to complete the privatization of the land-based operations, Mr. Tengco replied: “Assuming I finish my stint as [Pagcor] chairman and CEO until 2028, then I will hope that before I step down, I’m able to privatize the Casino Filipino network, including the operations of casinofilipino.com.”

He also said that the agency had already reached agreements for the renovation of all the lease buildings for its Casino Filipino venues, “with at least three owners already starting renovations in different standalone branches”.

The Pagcor boss said the acquisition of 1,968 slot machines from casino equipment supplier and distributor RGB International Bhd was aimed at upgrading the existing inventory at Casino Filipino branches. RGB said the total value of the contract was just above US$81.3 million.

The new units are “set to be delivered starting next month [July],” stated Mr Tengco.

“These slot machines are the same as the machines used by all our integrated resort licensees,” he added.

The Pagcor order from RGB is for electronic gaming machines of third-party brands, namely: 888 units of Light & Wonder; 888 units of Aristocrat; 150 units of Konami; and 42 units of KL Saberi.

Pagcor also plans to upgrade its gaming tables offering, “by procuring a new casino management system”.

“Once the upgrades and renovations are complete, we expect our casinos to attract more players and guests, plus making our casinos more attractive to potential investors once we start offering them for sale,” Mr Tengco told GGRAsia.

Of the total 3,345 slot machines Pagcor plans to purchase, procurement for the second batch will likely start “before the last quarter of this year,” he added.

The official said plans were still being formulated regarding the privatization process, but could include some “assurances of jurisdictional territory”, including exclusivity rights for a determined period, for proponents that eventually acquire a Casino Filipino branch.

“Once we become a pure regulatory entity, you can expect a more dynamic and more lucrative Philippine gaming industry with a more level playing field that promotes fair competition and equitable growth,” he stated.

Leave a Reply

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

New Casinos

Philippines Online Casino Games on PesoBet.Pesobet online casino offers a wide variety of games to suit the different preferences of every player. Whether you prefer classic table games or exciting slots, we have the game selection you need.

Pinoywin is the best online casino website operating in the Philippines since 2021, winning the trust and popularity of Filipino players. At Pinoywin you can find a variety of online casino games such as slots, table games, video poker, live dealers to specialty games. Pinoywin also offers a range of the latest transaction systems widely used by Filipinos, including banks and e-wallets such as Gcash and Paymaya.
LARO88 is your premier destination for the ultimate online casino and slot gaming experience in the Philippines with secure payment options via Gcash. Explore our wide range of thrilling games and fascinating gambling opportunities, designed to suit the needs of all types of players.
Welcome to Peso88, the Philippines' premier online casino offering seamless transactions via GCash. As one of the best online casinos in the Philippines, we are committed to providing you with an exceptional gambling experience.
Milyon88 is the leading online casino in the Philippines and is affiliated with Gili Entertainment City. It is headquartered in the central business district of Manila. It is registered in the Philippines and holds a legal license from the local government.
Panalo999 Casino Online is a famous online casino in the Philippines, with tens of thousands of players currently visiting this website every day, and its games have the best odds.Panalo999 is licensed and regulated to provide you with the highest level of security. Our team is constantly improving research and development, from new games to better bonuses; we hope to bring players a different gambling experience. Join the gambling world of Panalo999 today and experience the best online casino in the Philippines.