KEN INTEREST IN PAGCOR OFFSHORE LICENSING
Philippines regulator says it has received 76 applications.
The Philippine Amusement and Gaming Corp (Pagcor) says that there is keen interest among offshore operators for its licenses as the e-gaming starts to reacquire some equilibrium after the recent unsettling decisions by government
Pagcor chief Andrea Domingo claims that since Pagcor started accepting applications in mid-September it has received 76 applications from operators for its offshore gambling licenses, and that she expects the successful applicants for the initial 25 one-year licenses to be announced soon.
Domingo said that applicants were aware that Pagcor might change licenses and rules after the initial one-year licensing period. She added that the initial months of operations under the new licenses would be used by Pagcor to assess and evaluate both operators and the efficacy of the licenses.
The licenses cover e-casinos using both live dealer and random number generator technologies, along with online sports betting, with the service provider entitled to use the title Philippine Offshore Gaming Operator.
Pagcor is charging application and processing fees of US$50,000 for e-casino licensing, and US$40,000 for online sportsbetting licenses. Once approved, operators will have to cough up a further US$200,000 (e-casinos) and/or US$150,000 (sportsbetting)
Operators are specifically barred from accepting wagers from Filipino punters.