{"id":10501,"date":"2020-09-30T20:54:36","date_gmt":"2020-09-30T20:54:36","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=10501"},"modified":"2026-04-24T01:22:31","modified_gmt":"2026-04-24T04:22:31","slug":"dof-prepared-to-work-on-privatisation-of-gambling","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/dof-prepared-to-work-on-privatisation-of-gambling","title":{"rendered":"DoF, “prepared to work on privatisation of gambling”"},"content":{"rendered":"\n

Finance Secretary Carlos G. Dominguez III predicts about US$6.18bn could be obtained by privatising gambling.\u00a0\u00a0<\/p>\n\n\n\n\n\n\n\n

Philippines.- Finance secretary Carlos G. Dominguez III has told reporters the Department of Finance (DoF) is \u201cprepared to work on privatisation of gambling activities\u201d<\/p>\n\n\n\n

The secretary is ready to back the recent proposal from Senate minority leader Franklin Drilon to privatise the gaming industry in a bid to increase income from the sector.<\/p>\n\n\n\n

Drilon proposed the privatisation this week as an alternative to raising taxes next year as the country seeks to improve finances after the impact of the Covid-19 pandemic. <\/p>\n\n\n\n

Drilon said: \u201cRather than talk about new taxes, the government can generate funds through the long-overdue sale of government assets and privatisation of the gaming industry.\u201d<\/p>\n\n\n\n

The privatisation would include the Philippine Charity Sweepstakes Office (PCSO).<\/p>\n\n\n\n

Dominguez believes the move could generate as much as Php300 billion (US$6.18 billion) in revenue, but noted that a new study may be required to check that amount since the pandemic has affected PAGCOR\u2019s operations.<\/p>\n\n\n\n

The Philippine government’s outstanding debt totals Php9.6 trillion (US$198 trillion), up 21.1 per cent on last year.<\/p>\n\n\n\n

Tax collection in the country is down, including PAGCOR\u2019s input<\/a><\/em><\/strong> as limited numbers of operations have resumed business at reduced capacity. <\/p>\n","protected":false},"excerpt":{"rendered":"

Finance Secretary Carlos G. Dominguez III predicts about US$6.18bn could be obtained by privatising gambling.\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":10503,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines' Finance Secretary, Carlos G. Dominguez III, supports the privatization of the national gambling industry, including the PCSO, as proposed by Senate minority leader Franklin Drilon. This initiative aims to generate an estimated US$6.18 billion in revenue to address the country's escalating debt and pandemic-induced financial strain, offering an alternative to new taxation. The move necessitates a re-evaluation of revenue projections given the pandemic's impact on PAGCOR's operational capacity.","focusai_entities":"Carlos G. Dominguez III, Department of Finance (DoF), Franklin Drilon, Philippine Charity Sweepstakes Office (PCSO), PAGCOR","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), affiliate_publisher (0.7), tech_data (0.7), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"New Governance Frameworks?","query":"What specific governance frameworks and B2B\/B2C licensing structures are anticipated to replace the current state-controlled model post-privatization?"},{"label":"Valuation & Due Diligence?","query":"How will the estimated US$6.18 billion valuation be reconciled with the pandemic's impact on PAGCOR's GGR and NGR, and what due diligence process is expected for potential acquirers?"}],"footnotes":""},"categories":[161,154,16333],"tags":[405,128,2895],"class_list":["post-10501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-legislation-news","category-south-east-asia-news","tag-pagcor","tag-philippines","tag-taxes"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10501"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10501\/revisions"}],"predecessor-version":[{"id":10520,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10501\/revisions\/10520"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10503"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}