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casino regulator in the Philippines, should be limited to oversight of the industry and no longer directly involved in casino operations through state-controlled venues.
“Pagco is a regulator, but at the same time it runs a gambling company. That’s wrong. If you’re a regulator, stick to it. You can’t run a gambling casino,” Benjamin Diocno was quoted as saying.
“We can privatize operations so that PAGCO can stick to its regulatory role,” Mr. Dioxno reportedly added.
He added that the country’s state-run corporate governance committee was already in the process of evaluating such steps.
Mr. Dioxno observed that the idea had been proposed before the current administration of President Ferdinand Marcos Jr., but faced “resistance.”
His remarks were reported in the context of a new proposal to create a sovereign wealth fund known as the Mahalika Wealth Fund.
Local media reported that PAGCO would be asked to invest 10% of its total gaming revenue into the fund. It is not clear in the report how it will affect PAGCO’s public funding structure at the moment.
Long ago, in the early days of President Rodrigo Duterte’s inauguration in November 2017, the Philippine government is said to be considering a special agency to oversee the privatization of some casinos described as being run by the country’s gaming regulator.
Pagcor operates a state-run casino under the umbrella “Casino Philippine”, and also licenses and regulates private sector venues. 슬롯머신
According to the Casino Philippine website, there is a series of places under its name, as well as many places described as ” tie-ups ” or ” satellites.
Alejandro Tengco Pagcor, the new chairman and chief executive officer, said in August that he hoped to “be given time to study” the idea that its game operator functions should be free of game regulatory obligations.