Philippines revisits proposal to privatise PAGCOR gaming operations
The GCG had suggested privatising PAGCOR’s gaming operations in 2018.
The Philippines.- It’s been revealed the Philippines’ Governance Commission for Government-Owned or Controlled Corporations (GCG) is again pushing for the government to separate PAGCOR’s dual functions by privatising its gaming operations.
In 2018, the GCG had recommended to the then-president Rodrigo Roa Duterte that PAGCOR’s commercial and regulatory functions be separated due to the conflict of interests caused by its dual role as both an operator of casinos and a regulatory of gaming operators. The Duterte administration didn’t take up those recommendations at the time.
According to the Manila Bulletin, GCG chairperson Alex L. Quiroz said the 2018 GCG recommendation is now being reviewed. However, the final decision on whether to privatise PAGCOR’s casino operations will still depend on the current president.
In August, Benjamin E. Diokno, the Philippines’ finance secretary, said that the issue of PAGCOR’s potential conflict of interest needed to be resolved.
Diokno said: “Pagcor’s new leadership will have to make their own plans moving forward. They should resolve the seemingly conflicting roles as an operator and regulator.”
PAGCOR currently regulates, authorises and licenses gaming in the Philippines but it also operates over 40 casinos itself. The regulator reported net income of PHP2.16bn (US$38.8m) for the first half of the year, up 2,600 per cent when compared to last year.
The regulator reported income from gaming operations of PHP24.72bn (US$443m), up 67.3 per cent year-on-year. Total income was PHP26.70bn, up 68.1 per cent.
