Alejandro Tengco, chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), said on Tuesday that the state regulatory agency’s own-brand Casino Filipino venues are set to receive by mid-September nearly 2,000 “new and modern slot machines”.
The first batch, “arriving within the week”, consists of 1,968 units, according to a press release.
The upgrade is part of the agency’s modernisation programme, ahead of the intended privatisation of the Casino Filipino network.
It had been announced in June that Pagcor was to acquire 1,968 slot machines from casino equipment supplier and distributor RGB International Bhd.
The total value of the contract amounted to just above US$81.3 million. The order included electronic gaming machines of third-party brands, namely: 888 units of Light & Wonder; 888 units of Aristocrat; 150 units of Konami; and 42 units of KL Saberi.
On Tuesday, Mr Tengco (pictured in a file photo) said the delivery of the new machines would level up the offerings at Casino Filipino branches, in a bid to increase foot traffic and boost overall profitability.
“As we prepare for the planned privatisation of Pagcor casinos, we intend to increase their value by modernising our gaming facilities and equipment to make them more attractive to potential investors,” stated the Pagcor boss. He made the remarks in a speech at the opening of the IAG Academy Summit in Manila.
According to the announcement, Pagcor has ordered a total of 3,341 new slot machines, which it said are identical to those being used in the country’s top casino resorts.
An entity called New NAIA Infrastructure Corp (NNIC), a consortium led by San Miguel Corp (SMC), will on Saturday (September 14) take over operations at Ninoy Aquino International Airport, known as NAIA, the main air hub for the Philippine capital, Manila.
The SMC-led consortium will also start working on a PHP170.6-billion (US$3.02-billion currently) revamp of the country’s main gateway for air travellers.
The new operator announced on Monday plans to reassign operations – over a period of three years – at the airport terminals, as well as some initial revamp work.
According to the proposal, NAIA’s Terminal 2 will only handle domestic flights. Terminal 1 will be used exclusively by flag carrier Philippine Airlines for its international flights.
All foreign airlines will operate at Terminal 3, which will also host the international connections of Cebu Pacific and AirAsia Philippines.
AirAsia Philippines domestic flights will be moved to Terminal 4, said NNIC general manager, Angelito Alvarez.
Speaking at the first edition of an “Aviation Forum” organised by the Economic Journalists Association of the Philippines and SMC, Mr Alvarez said the target – in four to five years – was to expand the airport’s capacity to 62 million passengers annually, from the current 35-million passengers design capacity.
NNIC also aims to increase the runway hourly capacity from 42 air traffic movements to 48 within the first four to five years of taking over operations at NAIA.
He said the current operations of NAIA would not be disrupted, as changes would be implemented gradually.
Other plans in the short term include improved retail and food and drink outlets, repair of existing infrastructure, and road expansion to the airport.
Mr Alvarez also said the plans include an expansion of Terminal 2, easier connection between the terminals, as well as a connection from Terminal 3 to Metro Manila Subway.
The terminal fee at NAIA is expected to go up next year, while other airport fees like landing fees and take-off fees will also be implemented soon, according to NNIC representatives. The new operator said the government had approved the terminal fee hike before the bidding of the NAIA modernisation programme.
At the same event, Department of Tourism undersecretary Verna Buensuceso said that the modernisation of NAIA would help boost the country’s tourism sector.
“These are new developments that we welcome very much to be able to open up new destinations and markets for us,” she said, as quoted by the official Philippine New Agency.
The Philippines aims to draw 7.7 million foreign visitors this year after exceeding its 2023 arrivals forecast.
The country received 3.71 million foreign tourists in the first eight months of 2024, a tally nearly 10.9-percent higher than the prior-year period, according to official data.
Hong Kong-listed International Entertainment Corp says it expects a loss attributable to its owners of “no less than HKD135 million” (US$17.3 million) for the 12 months to June 30 this year. That compares with a profit of about HKD18.3 million in the prior financial year, it said in a Monday filing.
The main reason for the anticipated financial-year loss is an “increase in general and administrative expenses” of approximately HKD126.8 million during the reporting period, including “one-time expenses of circa HKD40.9 million”.
That was associated with the establishment and operation of a casino and the development of an integrated resort (IR) with casino in the Philippine capital, Manila, stated the company.
International Entertainment took over the casino operations at its New Coast Hotel Manila (pictured) in May, under a provisional licence granted by country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor).
The company flagged that it expects its revenue for the latest financial year to rise about HKD15.3 million compared to the prior year.
International Entertainment said it recorded an increase in interest expenses on bank borrowings of about HKD37.4 million during its latest financial year, as well as an increase in net foreign exchange losses.
The firm also said it was working with its auditors regarding any eventual impairment loss that might arise from the expected credit losses. “If any impairment loss is recorded, the expected [annual] loss will increase,” it stated.
In September last year, International Entertainment said it would have to invest between US$1.0 billion and US$1.2 billion to develop an IR in Manila. The investment pledge was part of the agreement with Pagcor.
The project entails the revamp and expansion of the New Coast Hotel Manila property, which is controlled by one of the group’s units, Marina Square Properties Inc.
