The Philippine Amusement and Gaming Corp. (Pagcor), which is in charge of regulating gambling in the country, recently announced that it would be working with the Development Academy of the Philippines (DAP) to make it easier to sell Pagcor’s casinos and speed up the agency’s attempts to restructure.
The DAP is a government-owned-and-controlled corporation that helps different departments and local governments with their own capacity building initiatives and development projects.
Alejandro Tengco, Chairman and CEO of Pagcor, said that the agency has asked the DAP for technical help in order to meet the governance commission’s requirements for government-owned and run businesses. Before Pagcor’s network of Casino Filipino-branded sites is sold to a private company, it is important to set up a Compensation and Position Classification System (CPCS).
In March, Mr. Tengco made public his plan for Pagcor to sell its small, government-owned casinos, with the goal of making as much as PHP80 billion ($1.41 billion) from the sale. He says that it was recently confirmed that Pagcor will stop running casinos and focus solely on regulatory functions by 2025.
Pagcor’s choice to become only reulator is in line with its goal of promoting fairness and ensuring the long-term growth and survival of all players in the gaming industry.
The agency is now working hard to come up with plans that will make it easier for staff to move, especially in the Pagcor-run casinos that are going to be sold off.
Original story by: GGRAsia
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