The Philippine Amusement and Gaming Corporation (PAGCOR) recently announced a major strategic shift in the gaming industry. The state-run gaming firm has agreed to sell its casino assets for a total of $1.44 billion. This move is seen as a way to diversify its business and focus more on its core operations.

PAGCOR is the largest gaming firm in the Philippines and has been in the industry for over 40 years. It currently operates casinos, sports betting, and other gaming activities in the country. The company has been looking to diversify its business and focus more on its core operations, such as regulating and licensing gaming activities.

The sale of its casino assets is part of this strategic shift. PAGCOR has agreed to sell its casino assets to Bloomberry Resorts Corporation, a leading Philippine-based gaming and leisure company. The sale includes the rights to operate two casinos in Manila, as well as the rights to operate two casinos in Cebu.

The sale is expected to help PAGCOR focus more on its core operations and provide additional funds to support its other activities. It is also expected to help the Philippine gaming industry as a whole, as it will bring in more foreign investment and create more jobs.

The sale of PAGCOR’s casino assets is a major strategic shift for the Philippine gaming industry. It is expected to bring in more foreign investment and create more jobs, while helping PAGCOR focus more on its core operations. This move is seen as a positive step for the industry as a whole, as it will help create a more competitive and vibrant gaming market in the Philippines.