An Act Creating The Philippine Amusement And Gaming Commission (Pagcom), Authorizing The Appropriation Of Funds Therefor, And For Other Purposes
- Seeks to separate PAGCOR’s regulatory functions from its role as operator of gaming facilities thereby abolishing PAGCOR and creating the Philippine Amusement and Gaming Commission (PAGCOM) that will discharge the function of regulating the gaming operations in the country.
- Privatizing existing PAGCOR casinos through the Privatization Management Office (PMO), proceeds of which shall be remitted to the National Treasury under the General Fund.
- Gaming facilities will focus on foreign tourists. License will be issued to operators only in LGUs where foreign tourist arrivals reach 100,000 or more per annum. To discourage locals, a minimum entrance fee of P1,000 shall be charged.
- PAGCOM to collect from casino operators 5% percent as gross revenue tax. After such deduction, PAGCOM shall collect additional 25% from the aggregate gross earnings as National Government share to be reflected in the GAA as a Special Purpose Fund. This shall be earmarked for the following: a) 75% for the K to12 Program of DepEd, in addition to DepEd’s appropriations in the GAA; b) 5% for priority projects of the LGU hosting the gaming facility; c) 10% for the creation of a Trust Fund in the DSWD for the establishment and operation of rehabilitation centers for the treatment of addictions including compulsive gambling, drug dependency and alcoholism, among others, and d) 10% for PAGCOM’s administrative expenses.
- Providing Severance Mitigation Package for PAGCOR personnel who will be displaced.
COMMENT : Off