The privatization of Casino Filipino, operated by the Philippine Amusement and Gaming Corp. (PAGCOR), could reduce funding for the Universal Health Care (UHC) program by an estimated P1.7 billion to P2.1 billion annually, according to a report by local firm Geronimo Law, as cited by Philstar Biz.
The decoupling plan involves spinning off PAGCOR's casino operations, which currently contribute a significant portion of its revenue. Geronimo Law's analysis indicates that the loss of these funds would directly impact the UHC program, which relies on PAGCOR's mandated contributions. The firm estimates the shortfall could be between P1.7 billion and P2.1 billion yearly, potentially affecting health services for millions of Filipinos.
The Philippine government has pursued the privatization of Casino Filipino as part of broader reforms to enhance efficiency and maximize value from state-owned assets. However, stakeholders caution that the move must be carefully managed to avoid undermining critical social programs like UHC, which was enacted to provide universal health coverage. Industry observers are awaiting further details on how the transition will proceed.