Philippines lawmaker Sen. Panfilo Lacson is pushing for the privatization of casinos owned by the Philippine Amusement and Gaming Corp. (Pagcor) in order for it for focus on its role as a regulatory authority, local media reports.
Last week, Lacson submitted his Senate Bill 1471, which seeks to amend Pagcor’s conflicting roles of both regulating and operating casinos.
“Pagcor should cede its role as operator of all gambling and gaming activities. Through such manner, it can focus and put premium to its regulatory authority, which is its governmental role,” he said.
Should the bill be enacted to law, Pagcor will be required to privatize its casinos within a year, with proceeds from the sale to be remitted to the Bureau of Treasury for appropriation by Congress.
The bill will also consolidate Pagcor’s authority to regulate newly developed gaming and gambling activities, premises and technologies, including online gaming sites.