PAGCOR stops issuing franchises for casinos

As ordered by President Rodrigo Duterte, the gaming regulatory body will temporarily stop issuing franchises for casinos in the Philippines.

Philippines.- Recently, Philippine President Rodrigo Duterte ordered a stop to the issuing of franchises for casinos in the country, and the Philippine Amusement and Gaming Corp (PAGCOR) has taken notice. The regulatory body for gambling announced it would adhere to the presidential command, even though the industry contributed €255.2 million to state coffers during the first quarter of the year.

“There’s no gambling. I will not allow gambling. I’m not issuing any franchise for gambling in the entire Philippines now. It’s a moratorium… I hate gambling,” the President said on Tuesday. His comments follow the firing of all officials of the Nayong Pilipino Foundation over a controversial 70-year property lease contract with Hong Kong-based Landing International Development Ltd. that Duterte branded as “grossly disadvantageous to the government.”

“As a regulator, PAGCOR is duty bound to ensure that all gaming-related regulations are adhered to, balancing the responsibility of increase badly-needed revenues for the government and safeguarding the best interest of the Philippine people,” Pagcor said in a recent statement.