President-elect Rodrigo Duterte said he will realign all earnings of the Philippine Amusement and Gaming Corporation (PAGCOR) towards health and education, local media reports.
The Philippines president-elect made the remarks in a speech he delivered during his election thanksgiving party in Davao City over the weekend.
Duterte said health would be one of the top priorities of his administration.
“I will commit all earnings [from] PAGCOR which runs to billions,” he said.
He also said part of the funds would be allotted to education. “…. I will endeavor to build national high schools,” he said. “No need to walk 30 km to go to school.”
PAGCOR reported total income of P47.2 billion (US$995.8 million) in 2015, which was up 18 percent from the previous year.
The gaming regulator and operator reported strong performance from gaming operations in 2015, at P43.4 billion, up 45 percent from 2014. Other income totaled at P2.1 billion, whilst income from other related services, including the regulatory fees collected from licensed casinos and other gaming activities came in a P1.8 billion for the year.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
On 3 April 2020, the Ministry of Home Affairs of Singapore (MHA) announced that it will be reconstituting the Casino Regulatory Authority (CRA) to establish the Gambling Regulatory Authority (GRA) by 2021. The GRA will have an expanded mandate to regulate the entire gambling landscape in Singapore and aims to consolidate and optimize gambling regulatory resources within a single agency.
The Macau Civil Servants Association has urged Chief Executive Ho Iat Sent to encourage the other five gaming operators to follow SJM Holdings in providing a "reward" to employees early in the New Year.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.