(Photo courtesy of PAGCOR)
MANILA – Senators said transitioning into being a "purely regulatory" body would enable the Philippine Amusement and Gaming Corp. (PAGCOR) to more effectively regulate the gaming industry.
Calling the move a "step in the right direction," Senator Grace Poe said PAGCOR cannot "wear two hats at a time" or being a regulator and an operator at the same time.
"It gives the agency a conflicting role that has raised misgivings about its capability to effectively regulate the gaming industry," Poe said in a statement released Wednesday.
She cited the need to regulate the Philippine Offshore Gaming Operators (POGOs) and other unauthorized gambling operations, which have brought social ills to the country and deprived the government of earnings.
"If PAGCOR can effectively regulate the gaming industry and weed out unscrupulous activities, then it could even generate better revenues to help fund more government projects," Poe said.
Senator Sherwin Gatchalian likewise described the move as "a significant stride" toward improving the governance of the gaming industry.
"This move effectively eliminates any conflict of interest arising from its current dual role as a regulator and an operator," Gatchalian said in an earlier statement.
He said this would not only attract more private sector investments but also elevate the country’s stature as a premier gaming destination in the region.
"Inaasahan natin na mas magiging mahigpit ang pangangasiwa ng PAGCOR sa industriya (We expect PAGCOR to be stricter in regulating the industry)," he said, also citing POGOs, which are being used as a front for illegal activities.
During the opening of the Inside Asian Gaming Academy Summit held at the Hilton Manila last week, PAGCOR Chairperson and Chief Executive Officer Alejandro Tengco said the shift, which is targeted to be completed by 2025, would "level the playing field and ensure future growth and viability for all gaming industry players.”
Meanwhile, Gatchalian, chairperson of the Senate Committee on Ways and Means, filed on Wednesday Committee Report 136 calling for the immediate expulsion of POGOs from the country to help maintain peace and order and sustain economic growth.
Specifically, the committee report called for the adoption of a resolution urging the executive department to cease the operations of POGOs.
This is aimed at safeguarding the well-being of the Filipino people and maintaining a trajectory of growth and development in line with the administration's economic reforms. (With a report from Leonel Abasola/PNA)
