Philippine Amusement and Gaming Corporation(PAGCOR)

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Date: May 12, 2023, 10:50 a.m.

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Date: 2023-05-16 16:34:34.000000

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Is failure to pay loan Shark is criminal offense?

Published by Philippine Amusement and Gaming Corporation(PAGCOR) on May 12, 2023.
Requested from PAGCOR by P. Das at 10:50 AM on May 12, 2023.
Purpose: Personal Inquiry to take appropriate action
Date of Coverage: 05/11/2023 - 05/12/2023
Tracking no: #PAGCOR-265286365921

P.DAS May 12, 2023, 10:50 a.m.

Hi ! I would like to know information about - is it legal to have some loan sharks inside the casino area with 20 % interest rate per week? Is it legal to practice lending without license?

J.TISMO May 16, 2023, 4:34 p.m.

May 16, 2023 Dear Prithes Das, Greetings! In response to request dated May 12, 2023 10:50:16 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for confirmation whether it is legal for loan sharks/lending companies to operate inside casinos. We were able to determine that this particular information is already available online. Please follow the link below: https://www.pagcor.ph/press-releases/press-statement-casino-related-kidnappings.php Thank you. Respectfully, James Thaddeus Tismo FOI Receiving Officer

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