The Philippine Finance Ministry has confirmed the intention about privatization of the state casinos before the end of the year. Now 46 gaming establishments are under control of the Philippine Amusement and Gaming Corporation (PAGCOR). Taking into account that PAGCOR is the gambling regulator, the presence of subordinated casinos causes concern in connection with the conflict of interests.
In December, 2016 the President of Philippines Rodrigo Duterte reported to PAGCOR about plans of the state casinos sale.
“Of course, it will be better for the government to refuse from the gambling activity. Privatization will allow filling up the state budget, as well as it will eliminate conflicts of interest. PAGCOR cannot act as both an operator and the regulator of the gambling sector, ” Finance Secretary Carlos G. Dominguez said.
According to the current legislation, PAGCOR pays to the state a half of revenue of the gambling institutions which are under its control. Money from the state’s casinos goes to the public and social projects realized in the country.