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In a strategic attempt to enhance value and curb fraudulent transactions, Philippine Amusement and Gaming Corporation (PAGCOR) has released a roadmap that includes the privatization of its casinos and a comprehensive rebranding campaign.
A Step into the Future: Privatization Plans
PAGCOR’s Chair and CEO, Alejandro Tengco, recently unveiled plans to privatize 45 of the corporation’s casinos by the third quarter of 2025. The announcement was made during national budget deliberations in the House of Representatives. Tengco conveyed his intent to enhance the value of the corporation’s assets. The privatization plan, he believes, will play a pivotal role in it.
Despite Tengco’s confidence in the proposal, it was not without its detractors. Representative Rufus Rodriguez of Cagayan de Oro expressed reservations, questioning the need for privatization given the potential for the corporation’s assets to yield significantly more revenue in the forthcoming years and provide a better and more responsible gambling experience. Rodriguez likened this move to selling the ‘goose that lays the golden egg’, arguing that privatization could interrupt the steady flux of income.
A New Visual Identity: Comprehensive Rebranding
In addition to the privatization plan, PAGCOR is implementing a comprehensive rebranding strategy that includes the introduction of a new logo. Tengco confirmed that the rebranding was prompted by the need to counteract nearly a thousand fraudulent licenses currently in operation worldwide, including within the Philippines.
The rebranding is not merely superficial. The new logo represents a renewed commitment to ethical gaming, embodied in initiatives such as the implementation of “bonus rewards” and a “minimum deposit of 5 dollars“. These measures enhance the gaming experience while ensuring the integrity of PAGCOR’s operations.
Tengco emphasized that rebranding extends beyond a mere change of logo, and the implementation needs to be carried out meticulously. The graphic designer, he asserted, bears the responsibility of ensuring the logo’s proper use across various platforms.
In summary, Tengco’s goals for PAGCOR are clear – to increase the value of what they will privatise and effectively counteract fraudulent activities. The success of these plans will unfold as we approach the intended privatization timeline of 2025.
