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Government eyes P80 billion from sale of PAGCOR casinos

MANILA, Philippines — State-run Philippine Amusement and Gaming Corp. (PAGCOR) may generate as much as P80 billion from a plan to privatize its over 40 casinos nationwide.

During the House of Representatives Committee on Appropriations hearing yesterday, PAGCOR chairman and CEO Alejandro Tengco said the gaming agency is focusing more on its regulatory role.

“We are already doing some study on privatization. The goal is to increase the value of what we will privatize,” Tengco said.