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Republic of the Philippines >

HOUSE OF REPRESENTATIVES onte: U
Quezon City TME:
SEVENTEENTH CONGRESS
Second Regular Session
uouse iLt.o. 8249

Introduced by Manila Teachers Representative
VIRGILIO S. LACSON

INTRODUCTORY NOTE

‘The recent incident in Resorts World Manila with the gunman being heavily financially indebted
due to his accruing financial obligations from his creditors resulting to his gambling addiction
can be prevented if mechanisms were in placed to prevent individuals from accruing
indebtedness from loan sharks operating inside casinos which are taking advantage of their
misfortunes.

Reports within the gaming industry say that casino creditors have been around since the time
casinos opened in the country. Each financier can lend up to 100 Million Pesos a week to
borrowers who have been losing in the casino in exchange for their cars, real estate properties
and personal belongings such as expensive watches and jewelry. These loans sharks charge two
percent a day in interest or 20 percent a month to borrowers.

This bill aims to criminalize nefarious loaning and credit activities inside casinos (soliciting,
undertaking credit or loaning activities inside casino premises either physically or electronically,
financing casino players in exchange for properties) to protect individuals from loan sharks who
offer to finance their gambling activities in exchange for unfair collateral, prescribe severe
penalties to curb illegal loaning transactions inside casinos and hold casino operators accountable
in ensuring that their establishments are not accessory to the perpetration of the crime.

In view of the foregoing, the immediate passage of this bill is earnestly requested. *

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VIRGILIO S. LACSON


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

SEVENTEENTH CONGRESS
Second Regular Session

HOUSE BILL NO. 6249

Introduced by Manila Teachers Representative
VIRGILIO S. LACSON

AN ACT
CRIMINALIZING THE CREDIT AND LOANING ACTIVITIES OF LOAN SHARKS
INSIDE CASINO PREMISES AND PROVIDING PENALTIES THEREFOR

Be it enacted by the Senate and the House of Representatives of the Philippines in Congress
assembled:

SECTION 1. Short Title. — This Act shall be known as the “Protection Against Casino Loan
Sharks Act of 2017”

SEC. 2. Declaration of Policy. - The State shall outlaw credit and loaning activities of loan
sharks inside casino premises as it pose imminent threat to the financial credibility and monetary
viability of individuals.

The State shall ensure that individuals continue to possess sound financial disposition and are
provided legal means that shall protect them from accruing indebtedness by criminalizing
loaning activities of loan sharks illegally operating inside casinos.

SEC. 3. Definition, ~ Any person soliciting, undertaking credit or loaning activities inside casino
premises either physically or electronically, financing casino players in exchange for their cars,
real estate properties and personal belongings as collateral and charging interest rates for the
principal amount borrowed, shall be guilty of illegal credit or loaning and upon conviction shall
be penalized as provided in Section 4 hereof.

SEC. 4. Penalties. - Any person found guilty of violating the provisions of this Act shall suffer
the penalty of PRISION MAYOR to RECLUSION TEMPORAL and a fine of One Hundred
Thousand Pesos (P100,000.00) to Five Hundred Thousand Pesos (P500,000) at the discretion of
the court

SEC. 5. Direct Liability of Casino Operators. — Casino Operators shall be directly and
principally liable jointly with the offender for the commission of the offense for civil damages
unless the Casino Operators are able to establish that the establishment exercised due diligence in
preventing loaning activities inside their casino premises.


SEC. 6. Separability Clause. ~ If any part, section or provision of this Act shall be held invalid
or unconstitutional, the other provisions not affected by such declaration shall remain in full
force and effect.

SEC. 7. Repealing Clause. ~ All laws, acts, decrees, executive orders, rules and regulations or
other issuances or parts thereof, which are not inconsistent with this Act, are hereby modified
and repealed.

SEC. 8. Effectivity. — This Act shall take effect fifteen (15) days following its publication in the
Official Gazette or in at least two (2) newspapers of general circulation.

Approved,