Congressman Pushes for PAGCOR Abolition, Aims to Privatize Casinos, Regulate Online Gaming

Rep. Flores of Bukidnon suggests creating the Philippine Amusement and Gaming Commission (PAGCOM) in place of the Philippine Amusement and Gaming Corporation (PAGCOR).

While PAGCOR would privatize its casinos, PAGCOM would simply regulate gambling.

Concerns over PAGCOR’s dual role as an operator and regulator are allayed by this ruling. In addition, a 5% tax on casino earnings is proposed in the legislation, with an additional 25% going toward social programs and rehabilitation centers.

The House Committee on Government Reorganization head, Flores, gave her approval to House Bill 3559, which was backed by Finance Secretary Ralph Recto.

He plans to amend the bill to forbid online games linked to cybercrime and gradually phase down Philippine Offshore Gaming Operations (POGOs).

Original Story by: Asian Gaming Brief