The head of the Philippine Amusement and Gaming Corporation (Pagcor), Alejandro Tengco, stated that the organization must decide whether to function as a supervisor or as a manager.
Tengco was answering inquiries regarding Pagcor during a House of Representatives budget committee meeting on August 30th. Tengco was named as the new leader and chief executive of the regulatory body last week. During the meeting, Representative Rufus Rodriguez questioned Tengco about the suitability of Pagcor being both a supervisor and a manager.
“It’s challenging,” Rodriguez remarked. “It’s a conflict of interest for the same entity to both regulate and operate. In other words, there cannot be a fair playing field. Do you concur that it’s time to enact legislation to establish a casino regulatory body?”
Tengco responded by acknowledging that Pagcor’s dual role as an operator and a regulator is a matter they have observed and agreed needs to be addressed.
“This is among the top priorities of the current Pagcor administration,” Tengco stated. “I believe we need to effectively separate the supervisor from the manager.”
Its crucial to tackle this issue immediately and make a swift decision. Even the Finance Secretary is urging PAGCOR to halt operations at nearly 40 casinos, allowing us to draw a line and determine if we should retain just one.
Tenco stated that PAGCOR aims to “resolve this matter” as soon as possible when discussing drafting a new casino law, emphasizing that the primary focus will be on regulation.
“The ultimate decision could involve supporting the sale of the casinos… eliminating the need for a casino regulator. We’ll undoubtedly prioritize control.”
“We’ll present a report outlining our final decision on this matter.”