Disinformation on PAGCOR Privatization Plan Exposed

MANILA, Philippines (February 14, 2024) — The Philippine Amusement and Gaming Corporation (PAGCOR) strongly criticized the spread of false information regarding the plan to privatize the agency’s casinos that is causing demoralization among its employees.

PAGCOR Chairman and CEO Alejandro H. Tengco specifically criticized the social media posting of employee Gian Samson who said that PAGCOR will spend Php500 million to repair its Casino Filipino branch in Angeles City.

“There is no truth in Mr. Samson’s allegations because the said renovation will be borne by the lessor,” said Chairman Tengco. “PAGCOR will not spend a single cent on the renovation.” This statement was emphasized by Chairman Tengco during the hearing in Congress on February 12th.

In his post, Samson said the plan to beautify the Angeles City branch is to make it attractive to potential buyers once it is privatized.

According to Chairman Tengco, the renovation of the Angeles branch is part of PAGCOR’s efforts to provide better facilities and services to the customers of the said branch and ensure its good income.

“We do not own the building where CF Angeles stands, so we had an agreement with the lessor to cover the renovation costs because they are the owner of the place, and PAGCOR is only renting,” said Chairman Tengco.

“This is also the agreement we will make with the Bacolod branch as part of our effort to make our casinos more attractive for the benefit of not only PAGCOR but also the government,” he said.

The privatization of PAGCOR casinos will also begin in late 2025 so that the agency will have enough time to provide safety nets for those who will be affected.

At the same time, Chairman Tengco also criticized the allegation of the PAGCEA group that a total of 10,000 employees will lose their jobs in the agency’s privatization plan.

“This number is absurd because 10,000 employees is our total workforce,” it said. “We are not disbanding PAGCOR; and many workers will still remain in the regulatory, enforcement, monitoring, electronic gaming licensing and other units,” added the PAGCOR Chief.

“That’s why I call on our employees not to believe the lies spread by some individuals,” said Chairman Tengco. “We are here to promote your welfare, but let us do our duty.”

SOURCE: PAGCOR.