Philippines fights illegal gambling
The Philippines is increasing its efforts to stop illicit online gambling. In the first quarter of 2024, Globe substantially widened the scope of its efforts by taking down...
PAGCOR’s new licensing rules for Philippine offshore gaming
Forty licenses to offshore gambling operators, now known as internet gaming licensees (IGLs), were recently granted by the Philippine Amusement and Gaming Corp..
In 2023, these operators—previously called Philippine Offshore Gaming Operators (POGOs)—reported earnings of over PHP 3.15 billion, or roughly $54.39 million. This sum amounts to a small fraction, approximately 4.31%, of PAGCOR’s annual gaming revenue, which came to PHP 79.37 billion (about $1.37 billion).
In addition to the 40 normal IGLs as of mid-May, PAGCOR has also given nine provisional licenses. These changes follow a modification in laws. The “Internet Gaming Licensing Regulations,” which went into effect on July 12, 2023, is a set of new, tougher regulations that PAGCOR mandated all POGOs to reapply for in August of the previous year.
Prolonged disagreements over POGOs, especially those concerning the hiring of foreign laborers in the industry, became the basis for this regulatory revision. Because of the offshore gambling industry’s importance to national revenue and job creation in the Philippines, PAGCOR and certain lawmakers in the country still support it in spite of these challenges.
Philippines’ gambling revenue expected to surge in 2024
After shattering records in 2023, the Philippines is predicted to enjoy at least a fifteen percent increase in its gambling income this year. The home market will be the...
