The government is expected to start in the coming months selling several casinos of the state-run Philippine Amusement and Gaming Corporation (PAGCOR).
Finance Secretary Carlos Dominguez III said the privatization program of state-operated casinos is being prepared by PAGCOR and a team from the Department of Finance.
“I think the plan will be completed within next few months,” Dominguez said during a Palace news conference.
The planned sale of the casinos operated by PAGCOR, however, won’t be easy, according Dominguez. “It is not a simple selling of goods because there are lot of complicated contracts involved,” he said.
With the planned privatization of the casinos, Dominguez noted that state gaming corporation could focus on its regulatory functions. “Basically, the goal is to separate the operating function of PAGCOR from its regulatory function,” he added.
A draft executive order on the privatization of the state casinos has reportedly been submitted by the DOF to the Office of the President.
The finance chief earlier said the government aims to privatize 17 PAGCOR-operated casinos out of a total of 46 this year. The plan aims to raise additional revenues for the government.
By Genalyn Kabiling Manila Bulletin
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