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PAGCOR provides PHP 50M support to NBI in the fight against illegal gambling
The Philippine Amusement and Gaming Corporation (PAGCOR) has granted PHP 50 million in financial assistance to the National Bureau of Investigation (NBI) to bolster its campaign against illegal gambling, including unlicensed Philippine Offshore Gaming Operators (POGOs).
A memorandum of agreement was formally signed on Monday at PAGCOR’s Corporate Office in Pasay City by PAGCOR Chairman and CEO Alejandro H. Tengco and NBI Director Jaime Santiago. During the turnover ceremony, an initial PHP 25 million tranche was released to the NBI.
Chairman Tengco emphasized that the partnership between PAGCOR and NBI is not only essential for ensuring proper regulation of gaming and securing government revenues for nation-building, but also for safeguarding the integrity of the industry.
“This morning, we are signing a memorandum of agreement that underscores the shared responsibility of PAGCOR and the NBI in promoting lawful, fair, and responsible gaming in the Philippines,” said Tengco. “This assistance will defray the cost of food and expenses for POGO detainees, as well as support the Bureau’s legitimate operations against illegal gaming activities.”
He further stressed that revenues from regulated gaming must ultimately benefit the Filipino people, while illegal gambling operators “undermine laws, exploit people, and put communities at risk.”
NBI Director Santiago expressed his gratitude, stating that PAGCOR’s support will significantly strengthen the Bureau’s capability to address unlawful gaming.
“The NBI welcomes PAGCOR’s assistance as it will enable us to step up our operations against illegal POGOs and other unlawful gaming activities. This partnership affirms our shared duty to uphold the law and protect the Filipino people,” Santiago said.
The post PAGCOR grants PHP 50M to NBI to strengthen campaign against illegal gambling in the Philippines appeared first on European Gaming Industry News.
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