The Philippine Amusement and Gaming Corporation (PAGCOR) head, Alejandro Tengco, has declared that PAGCOR must determine whether to remain as a supervisor or a provider.
Tengco was interrogated regarding PAGCOR during a session at the House of Representatives Appropriations Committee yesterday (August 30). Tengco was chosen as the new leader of the regulatory organization last week.
During the session, Representative Rufus Rodriguez inquired of Tengco if it was suitable for PAGCOR to be both a supervisor and a provider.
“It’s challenging,” Rodriguez stated. “It’s a conflict of interest for the same organization to both regulate and operate businesses.
“In other words, there can’t be a fair playing field. Do you concur that it’s time to draft a bill to establish a casino supervisory body?”
In response, Tengco stated that PAGCOR being both a provider and a supervisor is a matter that has been observed and agreed that it needs to be addressed.
“This is one of the top priorities of the current PAGCOR administration,” Tengco said. “I believe we truly need to separate the supervisor from the provider.”
Its crucial to address this matter promptly and arrive at a resolution. Even the Finance Secretary believes that Pagcor should relinquish control of nearly forty gambling establishments. This will assist us in determining whether we should remain involved in the casino industry.
Tengco stated that Pagcor aims to rectify this issue swiftly while drafting a new casino law. He indicated that they will prioritize rules and regulations.
“We may opt to dispose of the casinos… thus eliminating the need for a casino regulator. We will undoubtedly concentrate on regulations.
“We will provide a report outlining our final determination.”