Online Casino Transfer: News - Big PAGCOR Offer Received

08/28/2010		Online Casino Style: News Bog PAGCOR Offer
Home History Games News Dictionary		It seems that the news in regards to the one and only Philippine brand for online gambling is heating up this week, as a very generous offer has been made for the state-run entity following rumors that the government would consider putting PAGCOR up for sale. Privatization is a very attractive possibility for the organization, as it would finance the government heavily, allowing them to do more than just balance their budget in a moderate way. Even more surprisingly, the offer came not from a business, but from an individual: the vice – chairman of San Miguel, the food and beverage company. According to a report by the Agence France Presse, Ramon Ang expressed more than just an interest in buying the rights to PAGCOR and their monopoly on the internet gambling industry in the Philippines. He’s serious about the goal, so much so that he offered $10 billion. The rumor was quickly confirmed by the President for the Philippines, Benigno Aquino, who said that the offer was well received indeed. The local typcoon was interested in taking over the monopoly, with help of course. What marked the offer as interesting for most in the online gambling world is that the presentation was made by Ang on a personal level, with him speaking not as a representative for San Miguel, but instead beginning negotiations on his own behalf. "It is a proposal, it is a very interesting proposal. But at the same time we have to study the matter first," Aquino told reporters."(We) have to ensure that if we intend to sell something, it is at the best price we can get." Meanwhile, Ang thought very highly of his own offer, pointing out that the government could have their hands on $10 billion cash in six months, as opposed to earning it through taxes over years, should they decide to formally put PAGCOR on the sales block.

08/28/2010

Online Casino Style: News
Bog PAGCOR Offer

It seems that the news in regards to the one and only Philippine brand for online gambling is heating up this week, as a very generous offer has been made for the state-run entity following rumors that the government would consider putting PAGCOR up for sale. Privatization is a very attractive possibility for the organization, as it would finance the government heavily, allowing them to do more than just balance their budget in a moderate way.

Even more surprisingly, the offer came not from a business, but from an individual: the vice – chairman of San Miguel, the food and beverage company. According to a report by the Agence France Presse, Ramon Ang expressed more than just an interest in buying the rights to PAGCOR and their monopoly on the internet gambling industry in the Philippines. He’s serious about the goal, so much so that he offered $10 billion.

The rumor was quickly confirmed by the President for the Philippines, Benigno Aquino, who said that the offer was well received indeed. The local typcoon was interested in taking over the monopoly, with help of course. What marked the offer as interesting for most in the online gambling world is that the presentation was made by Ang on a personal level, with him speaking not as a representative for San Miguel, but instead beginning negotiations on his own behalf.

"It is a proposal, it is a very interesting proposal. But at the same time we have to study the matter first," Aquino told reporters."(We) have to ensure that if we intend to sell something, it is at the best price we can get." Meanwhile, Ang thought very highly of his own offer, pointing out that the government could have their hands on $10 billion cash in six months, as opposed to earning it through taxes over years, should they decide to formally put PAGCOR on the sales block.