Sunday May 22,2016 : NEW ONLINE GAMBLING LICENSING JURISDICTION
Philippines launches new gaming jurisdiction in Aurora province.
A new online gambling licensing jurisdiction has been launched in the Philippines, barely 172 miles from the Cagayan Economic Zone Authority where master licensor First Cagayan Leisure and Resort Corp is allowed to issue online and land-based gaming licences.
The new gaming jurisdiction is located in Casiguran in Aurora province, an economically underdeveloped part of Luzon, and is physically situated within the Aurora Pacific Economic Zone and Freeport Authority (known as APECO).
Local media reports note that the focus will initially be on issuing online gaming licences, with the option of including land gambling operators at some future stage.
Pacific Seaboard Leisure and Entertainment Corp. has been authorised as the exclusive master licensor for the next 25 years, with CEO Victor Lazatin informing local reporters:
“We thought of initially starting… with online gaming, because it’s easier to set up. And then later on we’ll go into land-based casinos.”
The new body is looking to attract online gaming firms, using a licence fee structure similar to that at Cagayan.
Lazatin said that applications for gaming licences should be directly filed to Pacific Seaboard, which will be in charge of screening the applicants and handling the financial and legal aspects of applications.
Decisions on the award of gaming licences will be the joint responsibility of Pacific Seaboard and the Aurora Pacific Economic Zone and Freeport Authority.
The latter will charge US$40,000 annually – inclusive of application fees – to licence interactive gaming. The same costs will apply regarding a licence for Internet casino operations or for a studio-based live video streaming service featuring live-dealer table games.
Additionally, there will be a “gaming levy” of 2 percent of licensees’ gross win per month, or a US$5,000-minimum levy per table per month: whichever is higher.
APECO will however offer companies locating there what it refers to as an “income tax holiday”.
The APECO port will be opened in June of 2017 following expansion activity, officials revealed