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Tuesday, September 27, 2022
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HomeFront PageLawmaker opposes PAGCOR privatization

Lawmaker opposes PAGCOR privatization

BY CRIS DIAZ

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. -0-

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