Franklin Drilon said the privatisation would generate PHP300bn (US$5.5bn) in annual revenue.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Former senate president Franklin Drilon<\/strong> has joined calls for the privatisation of PAGCOR’s gaming operations to fund the Maharlika Investment Fund (MIF). He said privatisation of PAGCOR’s gaming and the Philippine Charity Sweepstakes Office (PCSO) would generate up to PHP300bn (US$5.5bn) a year that could fund the government\u2019s proposed sovereign investment fund.<\/p>\n\n\n\n PAGCOR currently contributes 10 per cent of gross gaming revenue (GGR) to the MIF<\/strong>. The main contributor to the fund is the Land Bank of the Philippines (LBP), set to contribute some PHP50bn (US$917.59m).<\/p>\n\n\n\n If PAGCOR’s gaming operations are privatised, Drilon said that the government would not need to use the dividends generated by the LBP and government financial institutions such as the Bangko Sentral ng Pilipinas (BSP), Development Bank of the Philippines (DBP) and Land Bank of the Philippines (LBP) to fund the MIF.<\/p>\n\n\n\n In December, the Philippine finance secretary Benjamin E. Diokno <\/strong>said PAGCOR should be a regulator only<\/a>. Carlos Dominguez<\/strong> previously raised the idea of privatising PAGCOR\u2019s gaming operations during the Duterte administration but the move didn’t go ahead. The Governance Commission for GOCCs (GCG)<\/a> is currently evaluating the decoupling of the functions of the regulator. <\/p>\n","protected":false},"excerpt":{"rendered":" Franklin Drilon said the privatisation would generate PHP300bn (US$5.5bn) in annual revenue.<\/p>\n","protected":false},"author":176,"featured_media":777000296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Former Senate President Franklin Drilon advocates for the privatization of PAGCOR's gaming operations and the Philippine Charity Sweepstakes Office (PCSO) to generate PHP300bn (US$5.5bn) annually for the Maharlika Investment Fund (MIF). This strategic divestment would enable PAGCOR to transition solely into a regulatory body, a concept previously proposed and currently under evaluation by the Governance Commission for GOCCs (GCG).","focusai_entities":"Franklin Drilon, PAGCOR, Maharlika Investment Fund, Philippine Charity Sweepstakes Office, Land Bank of the Philippines, Bangko Sentral ng Pilipinas, Development Bank of the Philippines, Benjamin E. Diokno, Carlos Dominguez, Governance Commission for GOCCs","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR Privatization Timeline","query":"What is the projected legislative and executive timeline for the proposed privatization of PAGCOR's gaming operations and its full transition to a purely regulatory body?"},{"label":"MIF Funding Impact","query":"Beyond the PHP300bn annual revenue, what are the long-term fiscal implications for the Maharlika Investment Fund if PAGCOR's gaming assets are privatized, considering potential market growth and regulatory stability?"}],"footnotes":""},"categories":[157,158,16333],"tags":[23911,405],"class_list":["post-777001859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-gambling-regulation","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001859","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777001859"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001859\/revisions"}],"predecessor-version":[{"id":777001903,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001859\/revisions\/777001903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777000296"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777001859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777001859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777001859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}