CAGAYAN DE ORO CITY: Cagayan de Oro City Rep. Rufus Rodriguez opposed plans to privatize the Philippine Gaming and Amusement Corp. (PAGCOR).
PAGCOR is the government’s gambling and casino regulatory body.
In a statement Thursday, Rodriguez said that PAGCOR earns billions of pesos annually that alleviated the government’s financial needs during the corona virus “pandemic.”
He said despite the pandemic, PAGCOR earned P 26.7 billion in the first half of this year, P 32.6 billion last year and P 30 billion in 2020.
“PAGCOR earns tens of billions of pesos a year for the government and for its numerous public service programs. I am strongly against privatizing it,” Rodriguez said.
He said that the private investors are profit-motivated and would care less about public service like helping the sick and building schools than a public agency like Pagcor.
Rodriguez said that as a private entity, PAGCOR cannot continue being a regulator and at the same time a player in the gaming industry.
Instead of privatizing PAGCOR, the government creates a Casino Gaming Regulatory Authority so that PAGCOR could continue to be a gaming-casino operator.