Rep. Flores of Bukidnon has proposed the creation of the Philippine Amusement and Gaming Commission (PAGCOM) to replace the Philippine Amusement and Gaming Corporation (PAGCOR).
Under this proposal, PAGCOR will privatize its casinos, while PAGCOM will be responsible only for the regulation of gambling.
The ruling eases concerns about PAGCOR's dual role as operator and regulator. Additionally, the bill proposes a 5% tax on casino revenue, with the other 25% going to social programs and rehabilitation centers.
Flores, who heads the House of Representatives' government reorganization committee, approved House Bill No. 3559, which has the support of Finance Secretary Ralph Recto.
He plans to amend the bill to ban online gaming linked to cybercrimes and phase out Philippine Offshore Gaming Operations (POGOs).
