PAGCOR to limit online licenses to 50
News on 6 Jun 2017
News on 6 Jun 2017
The Philippine Amusement and Gaming Corp. (PAGCOR) is considering a limit on the number of accredited Philippine Offshore Gaming Operators (POGO) to avoid possible “oversaturation” in the industry, according to PAGCOR employee, Jose Tria Jr.
Tria, Assistant to PAGCOR Chairman and CEO, Andrea Domingo, told Malaya Business Insight that 42 POGOs had already been approved, leaving 12 applications pending.
“We will be able to assess the saturation of the market through the audit system. If their (POGOs’) income drops from their previous reported income, it means there are too many operators,” Tria said.
PAGCOR has doubled its estimate, now hoping to fatten State coffers by as much as P 6 billion ($121,224,420) in taxes per annum from the total gambling industry.
The entity expects to iron out delays in the procurement of an audit system to ensure installation in September.
Licensed online gaming operators will be required to utilize the services of a PAGCOR-accredited support provider to offer offshore online gambling to foreigners based outside of the Philippines.
Internet casino licenses will cost $200,000 and sports betting, $150,000 and a tax proposal of two percent on gross gaming revenue for both land-based and online operations is on the table.
