{"id":8306,"date":"2022-08-30T00:00:00","date_gmt":"2022-08-30T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/philippines-is-thinking-on-privatizing-pagcor\/"},"modified":"2022-08-30T00:00:00","modified_gmt":"2022-08-30T00:00:00","slug":"philippines-is-thinking-on-privatizing-pagcor","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/philippines-is-thinking-on-privatizing-pagcor\/","title":{"rendered":"Philippines is thinking on privatizing Pagcor"},"content":{"rendered":"<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">The Philippines&rsquo; Finance Secretary, Benjamin Diokno, has said that the privatisation of some government-owned and controlled corporations, including of the Philippine Amusement and Gambling Corp (Pagcor), could help boost the government&rsquo;s revenues. The official said also that the government would &ldquo;be very aggressive&rdquo; in its privatisation effort.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Mr Diokno made the comments with members of the House Committee on Appropriations, according to local media reports.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Pagcor operates state-owned casinos under the &ldquo;Casino Filipino&rdquo; umbrella, and licenses and regulates private-sector venues, Mr Diokno told reporters that Pagcor&rsquo;s new board should announce its plans regarding the separation of its regulator and operator duties.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&ldquo;<span style=\"font-family:Arial,serif\"><span style=\"font-size:large\"><em>Pagcor&rsquo;s new leadership will have to make known their plans moving forward. They should resolve the seemingly conflicting roles as an operator and regulator. <\/em><\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\"><em>We would like the economy to grow and to recover. So, if there are] additional resources available to us &ndash; either through maybe new loans or maybe additional revenues coming from, say, privatization of some corporations &ndash; we would be willing to support a supplemental budget&rdquo;<\/em><\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\"> Mr Diokno said.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Ideas for privatizing Pagcor&rsquo;s own casino operations have been mentioned in the past by a number of national administrations but have not been pursued. A new Pagcor leadership was sworn into office earlier this month by the nation&rsquo;s leader, President Ferdinand Marcos Jr.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Alejandro H. Tengco was appointed as Pagcor chairman and chief executive, and Juanito L. Sa&ntilde;osa Jr as president and chief operating officer.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:x-large\">Pagcor saw its net income leap to approximately PHP2.16 billion (US$38.4 million) for the first six months of 2022. It compared with net income of just under PHP79.1 million in the prior-year period.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">No Copyright infringement intended. Video\/Photo Unknown Direct for credits\/issue or text us +57 3606412 &#8230; | Respect to Photographers &amp; Influencers<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mr Diokno made the comments with members of the House Committee on Appropriations, according to local media reports.<\/p>\n","protected":false},"author":1,"featured_media":5689,"menu_order":322,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4195],"class_list":["post-8306","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-pagcor-philippines-gambling-regulator-casinos","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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