THE Philippine Amusement and Gaming Corporation (PAGCOR) bared that for the next five years, there will be international resorts that will open up in the Philippines.

PAGCOR said that they are optimistic with regards to the growth prospects of the country’s gaming industry.

Likewise PAGCOR said that they are looking to fully divest from its casino operations business to be a purely regulatory body.

“Overall, the industry can expect sustained growth in the next five years, with at least one integrated resort opening every year beginning this year in Quezon City, to be followed by new IRs in Cebu, Clark, and other equally strategic locations,” PAGCOR chairman and CEO Alejandro Tengco.

Also, Tengco clarified that “the industry can also expect PAGCOR’s full decoupling from its casino operations within that time frame to become a purely regulatory entity dedicated to overseeing growth and attracting more investments.”

It can be recalled that in March last year, the PAGCOR chief disclosed the agency’s plan to privatize the agency’s self-operated casinos, Casino Filipino, and instead focus on a purely regulatory role.

In their statement, PAGCOR said that they are expecting to raise at least P60 billion to P80 billion in revenues from their privatization plan.

“We shall also continue lowering our license fees and modernizing our systems to help realize our vision of making the Philippines the gold standard in gaming in the Asia-Pacific region,” Tengco said.