The government of Cebu City is seeking an increase in annual funding from the Philippines gaming regulator for hosting PAGCOR-accredited casinos in the city.
According to the Inquirer, Mayor Edgardo Labella has revealed that talks have already begun with PAGCOR chair Andrea Domingo about increasing Cebu’s share, which currently sits at Php4 million (US$79,000) per month or Php48 million (US$940,000) per year.
The boost comes after PAGCOR announced an 11.7% increase in income from gaming operations in 2019 to Php75.76 billion (US$1.49 billion).
“I have been assured by Chairman Domingo that she would increase our shares. It is also good that the city council passed a resolution urging the increase,” Labella said, noting that the City Council had passed a resolution last Wednesday 19 February.
Councilor Renato Osmeña Jr added, “Since our big city is a friendly host to a number of big casinos in the region and has been open and receptive to lucrative POGO (Philippines Offshore Gaming Operators) businesses, it is therefore timely and proper that we reach out to PAGCOR for help and support.”