Pacific Seaboard Leisure and Entertainment has been selected as the master licensor for the Philippines’ newest gaming jurisdiction APECO (Aurora Pacific Economic Zone and Freeport Authority) which will focus initially on issuing online gaming licences.
It aims to challenge the existing hubs of Manila and the Cagayan Economic Zone Authority, where First Cagayan Leisure and Resort Corp is overseeing a similar role.
The cost of online operation will be US$40,000 each year both for online casinos and live dealer gaming. Gaming tax will be set at two per cent of Gross Gaming Revenue or a US$5,000-minimum levy per table.
APECO said that at later date there would be ‘no limit’ on the number of land-based casinos that could be allowed in the zone.