Philippine lawmaker proposes new regulator to replace PAGCOR
Jonathan Keith Flores has proposed the creation of a new Philippine Amusement and Gaming Commission (PAGCOM).
The Philippines.- Bukidnon 2nd District representative Jonathan Keith Flores has proposed the dissolution of the Philippine Amusement and Gaming Corporation (PAGCOR). He proposes replacing it with a new regulatory body called the Philippine Amusement and Gaming Commission (PAGCOM).
Flores has adopted House Bill 3559, originally authored by former Batangas lawmaker and current finance secretary Ralph Recto. The bill would transfer PAGCOR’s regulatory powers to PAGCOM and privatise PAGCOR’s own gaming operations, including online gaming in order to eliminate its conflicts of interest.
That latter aspect is not entirely new. PAGCOR’s CEO, Alejandro H. Tengco, has said that work is already underway to prepare for the privatisation of PAGCOR’s casinos. At the IAG Academy Summit, Tengco said the aim was to complete the privatisation by 2025.
PAGCOM would impose a 5 per cent gross revenue tax on casino operators, while 25 per cent of aggregate gross earnings would be allocated to priority local government projects, the establishment of addiction rehabilitation centres and other social services programmes.
Meanwhile, the bill proposes the phasing out of offshore gambling operators with expired or non-renewed licences and measures against illegal offshore gambling operators. It’s not clear how this would differ from the current situation.
