PAGCOR looks for new sources of revenue in wake of e-sabong ban
Communications secretary Martin Andanar said the government is confident the regulator will find new sources of revenue.
The Philippines.- The gaming regulator PAGCOR has been left seeking new forms of revenue after the unexpected announcement of the immediate suspension of online cockfighting operations in the Philippines.
President Rodrigo Duterte has ordered the suspension of e-sabong operations following the recommendation of local government secretary Eduardo Año. According to The Philippine News Agency, Año submitted a report to Duterte, recommending the suspension o“until a better set of framework and regulations are formulated, in such a way that it will not significantly harm any of the stakeholders and lead to the moral decay of society.”
The announcement puts in doubt PAGCOR’s revenue expectations as the regulator’s chairman Andrea Domingo had previously said PAGCOR could raise about Php7.2bn to Php8bn if e-sabong continued to operate until the end of 2022.
Pagcor achieved a monthly turnover of PHP650m through e-Sabong. From April 2021 to December 2021, the government earned about PHP3.69bn and from January to March 15, 2022, approximately PHP1.37bn was collected from the operations of seven licensees.
However, the government is confident in “the ability of PAGCOR to generate new revenues,” communications secretary Martin Andanar told local media.
A bill to tax online betting on sabong events held in legal cockpits was approved in November 2020, and in May 2021, PAGCOR issued the first licences.
