‘Casino Filipino is bleeding like mad’ Says PAGCOR Chair

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Earlier this year, experts forecast that the sale of Casino Filipino could result in a shortfall for the Universal Health Care fund

PAGCOR is moving closer to a sale of its Casino Filipino network as the Philippine regulator seeks to separate its commercial arm from its supervisory role. 

According to the Phil Star, the agency is weighing a preliminary valuation of P20 billion ($318.4 million) to P30 billion, and is targeting an exit from casino operations in the third or fourth quarter of 2027. 

Losses are Forcing the Timeline

Chairman and Chief Executive Alejandro Tengco has said the business is under heavy strain. “Casino Filipino is bleeding like mad,” he told reporters in Boracay/

He added that losses are expected to be in the remit of P7 billion. The estimate is well below the P80 billion sale figure Tengco cited in 2023 and below the P30 billion to P50 billion range he outlined in late 2025 per AGB.

The proposed disposal covers 35 casinos, including 12 directly run properties and 23 sites under revenue-sharing deals. 

PAGCOR emphasised that some operators, such as Entertainment City, have already expressed interest in acquiring the operations.

‘No other way forward’ – But What About UHC?

Tengco insisted the sale would go through, stressing that there was “no other way forward” according to Manila Bulletin.

Despite this, earlier this year Geronimo Law stated that the sale may result in a significant shortfall for the Universal Health Care (UHC) fund.

Under the Universal Health Care Act, half of Pagcor’s income flows to PhilHealth to support healthcare coverage. 

 The sale could leave the fund short by as much as P2.1 billion a year.