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A seismic shift Philippine President Rodrigo Duterte has made it clear he’s not concerned about rocking the boat. His actions since taking office have raised alarm bells across the globe due to his heavy-handed crackdown on the drug trade. While foreign investors are wary, some steps may prove positive for the gaming industry.
ince taking office in June, Duterte has made a series of pronouncements that have shaken the established order in the Philippines, including rejecting long-term ally, the U.S., in favor of closer ties with China. The gaming sector hasn’t escaped his reach with a crusade, since reversed, against online gaming companies and a call for The Asia Gaming Briefings | November 2016
Philippine Amusement and Gaming Corp. (PAGCOR) to shed its casino assets and focus on its role as a regulator. The position on PAGCOR is likely to be applauded by most foreign investors, who have been uneasy about its dual role. The potential sale of PAGCOR’s assets not only opens up the chance of a properly
licensed and regulated market, it also throws up opportunities for operators and investors, both domestic and international, to buy casino real estate in one of Asia’s best-performing markets last year. But what exactly does PAGCOR have on its books, and what sort of revenues is the regulator-come-operator generating from its casino properties?