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Manila Bulletin devider Philippines devider National devider Senators express support on Pagcor's transition as a regulatory body

Senators express support on Pagcor's transition as a regulatory body

Published Sep 20, 2023 07:33 am

Senators have expressed support for the Philippine Amusement and Gaming Corporation's (Pagcor) move to transition solely as a regulatory body.

Sen. Grace Poe believes that if the Philippine Amusement and Gaming Corporation (Pagcor) can effectively navigate its role as a regulator, it can help fund more government projects.

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MB file photo

In a statement on Wednesday, Sept. 20, Poe, who chairs the Senate Committee on Public Services, stated that this can be accomplished by weeding out unscrupulous activities which in turn, could generate better revenues.

"We have seen how the illegal POGOs and other unauthorized gambling operations have brought social ills to the country," Poe said.

"While the illegal operations rake in money for some firms and individuals, the government is haplessly deprived of earnings," she added.

Pagcor's transition towards becoming a purely regulatory body is a step in the right direction, Poe said.

This move on the part of Pagcor, according to the senator, addresses the conflicting role of the agency which acts both as a regulator and operator, and has raised misgivings about its capability to effectively regulate the gaming industry.

Sen. Sherwin Gatchalian also shared the same sentiments, stating that he has long advocated decoupling Pagcor's regulatory functions from its commercial operations.

Gatchalian commended this move by the agency as it represents a significant stride towards improving the governance of the gaming industry.

Gatchalian hails lifting of moratorium on oil, gas exploration in WPS
MB file photo

"This move effectively eliminates any conflict of interest arising from its current dual role as a regulator and an operator," he said.

"I firmly believe that the separation of PAGCOR’s regulatory and commercial functions will not only attract more private sector investments but also elevate the country’s stature as a premier gaming destination in the region. Consequently, this is poised to significantly boost government revenues derived from the gaming industry,"

Gatchalian also mentioned that he expects Pagcor to be more strict in dealing with the gaming industry, including the Philippine Offshore Gaming Operators (POGOs) in the country which are being used in different crimes such as human trafficking and other notorious scams on investment, cryptocurrency and love scams.

Pagcor Chairman and CEO Alejandro H. Tengco recently announced that it is in the process of transitioning towards becoming a purely regulatory body from its current dual role as both operator and regulator.

According to Tengco, PAGCOR’s shift to a purely regulatory function is part of the agency’s goal to “level the playing field and ensure future growth and viability for all gaming industry players."

Related Tags

Philippine Amusement and Gaming Corp. Senator Grace Poe Senator Win Gatchalian Senate Committee on Public Services PAGCOR
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