Senate President Aquilino “Koko” Pimentel III has expressed help for the privatization of casinos owned by the Philippine Amusement and Gaming Corporation (PAGCOR), saying the company ought to deal with its regulatory operate.
“It (PAGCOR) should not operate casinos competing with the private casinos that it regulates,” Pimentel advised reporters in a textual content message Sunday (June 11).
To deal with PAGCOR’s “conflicting” roles, Senator Panfilo Lacson has filed Senate Bill 1471 looking for to take away the company’s operational operate.
The invoice proposes to amend Presidential Decree No. 1869, in any other case generally known as the Pagcor Charter of 1983, which allowed the company to manage and function casinos.
It will even amend Republic Act No. 9487, which prolonged PAGCOR’s franchise by one other 25 years and expanded and circumscribed its company powers.
Should the invoice be handed into regulation, PAGCOR’s present casinos shall be privatized in a 12 months’s time.