As part of the 2024 budget deliberations, the House Committee on Appropriations chaired by AKO BICOL Party-list Representative Zaldy Co reviewed the plans of the Philippine Amusement and Gaming Corporation (PAGCOR) for next year.
Co emphasized the significance of appropriate regulation to maximize the positive impact of gambling and gaming on government income.
“The government must implement comprehensive regulatory frameworks that ensure fair play, responsible gaming and the prevention of criminal activities like money laundering,” the legislator stressed.
“PAGCOR’s 2024 priorities include increasing its contribution to the national government’s revenue and nation-building efforts.”
According to Chairperson and Chief Executive Officer (CEO) Alejandro Tengco, PAGCOR’s 2024 priorities include increasing its contribution to the national government’s revenue and nation-building efforts.
In addition, it intends to enhance the agency’s budget utilization rate, increase gross gaming revenue, and guarantee the collection of license and regulatory fees.
The most prominent query posed to PAGCOR concerned the Philippine Offshore Gaming Operators (POGO), including their legal standing and licensing.
Several lawmakers expressed concern about the societal problems that the POGO sector brought, including money laundering, prostitution, human trafficking, and abduction, among others.
“A new regulatory framework was already established for strict compliance and supervision in the POGO industry.”
Tengco replied that a new regulatory framework was already established for strict compliance and supervision in the POGO industry.
Further, PAGCOR has already placed all the POGO licensees and its sub-licensees in probationary status.
Currently, there are 32 POGO main licensees and 106 service providers.
Also present in the hearing were committee Senior Vice-Chairperson Marikina City Representative Stella Luz Quimbo and Vice Chairperson AKO-BICOL Party-list Representative Raul Angelo Bongalon.
