Part of the revenue generated by the Pagcor must be used for projects that address social problems and issues linked to gambling, according to Ako Bicol party-list Rep. Elizaldy Co. | GabrielLaluINQ
“However, we must balance the financial benefits of the gambling and gaming industry by addressing potential negative social consequences. The government should also allocate a portion of the revenue generated towards programs that address problems arising from gambling, promote responsible behavior, and offer support to individuals who may be adversely affected by gambling-related issues,” he added.
Co also said that the government needs to ensure that activities linked to gambling — criminal acts like money laundering, kidnapping, and others — are prevented. “Furthermore, the compound effect of the economic activity produced by its operations creates a diverse range of employment opportunities in the industry reducing unemployment rates that fosters skill development and professional growth within the local workforce,” he said.
“It’s important to acknowledge that effective regulation is a cornerstone of maximizing the positive impact of gambling and gaming on government revenues. Governments must implement comprehensive regulatory frameworks that ensure fair play, responsible gambling, and the prevention of criminal activities like money laundering.
Co’s committee is set to hear the financial plans of Pagcor and the Philippine Charity Sweepstakes Office on Monday, as deliberations for the proposed 2024 national budget continue.Subscribe to our daily newsletter
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