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Pagcorp To Go Private
The Philippine government is considering privatising the nation's chain of casinos, President Benigno Aquino III said Friday, according to reports on the Agence France Presse news service.
The president has directed that a full review of the books of the Philippine Amusement and Gaming Corp (PAGCOR), owner of the sole franchise to run casinos, ahead of a potential sell-off.
"If at some point in time we can do away with having the government be the operator and the regulator, that will be a good direction," Aquino, who began his 6-year term two weeks ago, told reporters.
Aquino said he had no timeframe for privatisation, partly because the government needed to determine if there were any irregularities within PAGCOR and then remedy them.
The 41-casino chain reported a 2008 net income of P29.62 billion ($640 million).
Under the terms of its franchise, half of PAGCOR's income goes straight to the national budget, with the balance going to host cities, a fund controlled by the president's office and on various taxes.
Aquino said the review would look at whether the income had been going to the legal beneficiaries.
In a separate interview, former PAGCOR chairman Ephraim Genuino noted that the move could affect up to 13,000 employees.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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