PAGCOR’s chairman and CEO said the government could lose up to PHP40bn (US$685.5m) in tax revenues.
The Philippines.- Philippine Amusement and Gaming Corporation (PAGCOR) chairman and CEO Alejandro Tengco has expressed his opposition to a proposed bill to ban all forms of online gambling in the country. During a Senate committee hearing, he said a ban would unfairly impact legal businesses that contribute taxes and revenue to the government and could result in a loss of up to PHP40bn (US$685.5m) in tax revenues.
He said legalising currently illegal gaming sites could generate between PHP200bn to PHP250bn in additional revenues. However, Tengo said he would not oppose the move if a ban on offshore gaming operators is approved.
See also: PAGCOR reports net income of US$112.34m for H1
In June, senator Joel Villanueva called for a ban on offshore gambling operators arguing there was mounting evidence linking operators to “crimes such as torture, kidnapping, murder, and human trafficking.” He criticised the PAGCOR for failing to ensure operators conduct their business legally.
Robert Ace Barbers, chairman of the House Committee on Dangerous Drugs, and senators Imee Marcos, Risa Hontiveros and Sherwin Gatchalian have made similar calls. The latter has introduced Senate Bill 2689 seeking to prohibit the operations of offshore gaming companies. The bill aims to repeal Republic Act 11590, which was enacted on September 22, 2021, by former president Rodrigo Duterte.
Arsenio Balisacan, the Philippines’ socioeconomic planning secretary, said the government has not yet made a decision on calls to ban offshore gambling operators but exploring possible steps to soften the economic impact of any ban. Labour secretary Bienvenido Laguesma said analysis is being carried out on the possible impact on unemployment. In June, he warned that more than 22,000 workers could face unemployment if the government bans offshore gaming operations.
PAGCOR’s chairman and CEO said the government could lose up to PHP40bn (US$685.5m) in tax revenues. The Philippines.- Philippine Amusement and Gaming Corporation (PAGCOR) chairman and CEO Alejandro Tengco has…
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