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Casino Filipino Privatization: Transfer of Hotel and Building Leases

Casino Filipino operates almost entirely from leased properties. This report explains why each hotel and building lease must be reviewed, assigned, or replaced before a privatization transaction can close.

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What's Inside?

An overview of Casino Filipino’s leased-property model and why leasehold rights form a central part of the privatization transaction.

Analysis of why the transaction must proceed through an asset transfer and why individual lessor consent may be required for each lease assignment.

Key due diligence issues involving lease registration, novation, rental arrears, renovation commitments, and leasehold improvements.

Practical protections for bidders, including conditions precedent, new long-term leases, casualty review, and confirmation of lessor undertakings before closing.

Casino Privatization and Leasehold Transaction Advisory

Geronimo Law helps bidders, investors, lessors, and gaming operators structure Casino Filipino transactions, review lease portfolios, secure lessor consents, and allocate property-related risks.

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Frequently Asked Questions

This section addresses common concerns raised by businesses, legal teams, and finance professionals looking for clarity on complex issues and get a better understanding of key concepts.

Why are hotel and building leases important to the Casino Filipino privatization?

PAGCOR owns almost none of the real estate occupied by Casino Filipino. The transaction therefore depends on transferring or replacing the leases covering each gaming location.

Can PAGCOR transfer its Casino Filipino leases to a buyer automatically?

Generally, no. Because the privatization is structured as an asset transfer, each lease may require the lessor’s consent unless the existing contract expressly permits assignment without consent.

What lease-related issues should bidders review?

Bidders should verify assignment rights, lessor consents, lease registration, rent and escalation liabilities, renovation commitments, improvements, casualty history, insurance coverage, and remaining lease terms.

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