Pagcor eyes regulating casino financiers

THE Philippine Amusement and Gaming Corp. (Pagcor) plans to place casino financiers under its supervision to ensure the safety of the gaming public following reports of casino players being kidnapped.

In a statement on Thursday, Pagcor said it “intend[s] to accredit and regulate casino financiers, subject to the implementing rules and regulations on lending companies by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission, and other regulatory agencies.”

According to the state-run firm, the plan came after reports surfaced on the increasing number of players being abducted, allegedly by loan sharks in the casinos.

“Pagcor and the major players in the local gaming industry denounce these criminal acts and we will not sit idly in the face of these injustices,” it said.

Besides accrediting casino financiers, the gaming regulator also said it had organized a meeting with licensed casino operators in Parañaque City’s Entertainment City and Clark in Pampanga province, and with representatives of the Philippine National Police’s (PNP) Anti-Kidnapping Group and the Bureau of Immigration (BI), to address these kidnappings.

Along with its casino licensees, Pagcor assured that security protocols would be strengthened “to safeguard the integrity of gaming and entertainment business in the country.”

This includes enhancing casino surveillance facilities, such as facial recognition cameras; enable information-sharing among casino operators on suspected criminals; augment security personnel; and constantly coordinate with concerned government agencies, such as the PNP, BI, the Department of Foreign Affairs and the casino host cities.

Pagcor also believes that while gaming contributes significantly to government revenues, it must not be used as a vehicle for abuse and injustices.

“As the country’s gaming regulator, we condemn these dreadful acts and we will ensure that the local gaming industry will maintain the integrity of its operations,” it said.