$10B offered for Pagcor

[Ronn926]

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na unsa mn mo oi. one time payment rna, ma-earn rna in 1-2 years time sa pagcor....

no intawn...

[ritsche villadolid]

na unsa nane oy,ka sikreto ra ug labok, maypa e privitize nalang sad ang CUSTOM ug ang BIR

[CentOS]

na unsa mn mo oi. one time payment rna, ma-earn rna in 1-2 years time sa pagcor....

no intawn...

PAGCOR earns less than 50B net per year, so dili na equal to 2 years. Ako ana, baligya nako na, pero dapat dili 500B over "x" number of years.. dapat 100+B per year over the next 4 years. Ihurot dayon ng kwarta sa infra, education, etc. with full transparency. The gov't. still gets to earn from PAGCOR's taxes anyway.

[M@rv|n]

some developments:

Solons welcome proposed sale of Pagcor

“We are happy that a private enterprising Filipino like Mr. Ramon Ang concurs with our position and that of President Aquino about the virtues of privatizing the gaming and casinos. The offer of Mr. Ramon Ang will not be taken for granted because he speaks with authority,” he told reporters at the news conference of the members of the minority bloc Monday.

5 senators in favor of Pagcor sale

“It will be more manageable if the government is not involved in the winning or losing in the business. It regulates, gets its taxes, and gets its share of the outcome of the operation,” he pointed out.

Aquino may order Pagcor to stop operating casinos—Drilon

“Of course as a matter of policy, the President can say henceforth, Pagcor will no longer operate casinos. That's feasible but it should be bidded out. The actual operations of the casino should be bidded out because that will promote transparency,” he told reporters.

Aquino: Sale of Pagcor ‘a very interesting proposal’

“We are studying whether (US$10 billion) is a fair valuation of Pagcor. Part of the mandate of Chairman Naguiat is to study all contracts entered into by Pagcor and we understand Pagcor is getting only a quarter of what it should be getting. We have to determine whether the government was disadvantaged in those contracts. That's ongoing,” he said.

“The effects on export and overseas Filipino workers have to be studied from a macro-perspective and from the point of view of the government. That statement that (privatization) is good for the nation and lower the value of the dollar, that has consequences on the export sector and OFWs...We have to look at it from a bigger perspective rather than from (the limited) perspective of big business or a big businessman. There are a lot of concerns that need to be studied,” the spokesperson said.

[CentOS]

Selling PAGCOR makes good business sense. The reason why no foreign entity opens up casinos here is because it is in conflict with PAGCOR who regulates and at the same time operates the casinos which shouldn't be the case. Look at Macau, look at Nevada. Their governments only maintain regulatory bodies and there are no state-owned casinos, Nevada has the GCB (Gaming Control Board) and Macau has GICB (Gaming Inspection and Coordination Bureau). Once the government frees up the monopoly on the casinos, you can expect big casino names from HK, Macau, Singapore, etc. come into the picture. Gambling tourism is a very lucrative business

[cebulifer]

lets wait for the actual valuation!!!

Vice Chair Ang will be forming a consortium. Will the people in the consortium be known to the public? basin front lang na si Ang?

[kzoo_14]

na unsa mn mo oi. one time payment rna, ma-earn rna in 1-2 years time sa pagcor....

no intawn...

i agree..... murag dali ra jud ni mabawi....

[Tirong-say]

Sakto gyud, we can still earn through tax revenues and at the same time it will promote future ventures here.

[darkwing]

just imagine a P500 B instant budget for the country

[cebulifer]

wait lang sa lagi. sakto ba ang valuation na $10B? basin barato ra kaayo! considering ang buyer will be operating the current number of casinos now! basin bargain na ng $10B.