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Philippines – PAGCOR confirms 25 online gaming licences will be issued

By - 14 November 2016

PAGCOR, the Philippine Amusement and Gaming Corporation, has confirmed it will offer 25 online gaming licenses in its first batch with 76 companies so far registering their interest.

Chairman and Chief Executive Officer Andrea Domingo said the first licence would only run for a year with the first three to six months allowing PAGCOR time to study online gaming activity.

The licensees will be entitled Philippine offshore gaming operators and will be allowed to offer casino games through the Internet to foreigners aged over 21 years who are based abroad. Foreigners staying in the Philippines and Filipinos residing abroad will not be permitted to play.

Online casino applications have cost $50,000 whilst applications for sports betting have cost $40,000. Successful applicants must then pay $200,000 for an e-casino license and $150,000 for a sports betting license.

PhilWeb Corp, whose licence to operate e-games wasn’t renewed in the build up to the new legislation being released is confident that it will be awarded one of the initial licences.

New PhilWeb Chaiman Gregorio Araneta. Said that regaining a licence from PAGCOR was ‘already in progress’ with a relaunch expected before the end of 2016, allowing its 5,000 employees to go back to work.

PAGCOR has just announced that the first nine months of the year generated P35.22bn in revenues, marking a 9.81 per cent increase, up from P32.07bn for the period last year.

Revenue from gaming operations increased by 17 per cent to P38.13bn for the year so far to the end of September.

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