PAGCOR Teasing Online Gambling

PAGCOR Teasing Online Gambling for Local Casinos

In light of the fact that the Philippines Amusement and Gaming Corporation (PAGCOR) and local casinos are both experiencing difficulties in generating revenue, this outcome looked to be unavoidable. The regulator body is thinking about approving a request to let casinos participate in online gambling.

As a result of receiving an email from PAGCOR, Asia Gaming Brief was able to corroborate the story. “During the lockdowns that occurred this year, PAGCOR received proposals from operators of land-based venues requesting permission to collect bets online exclusively from known customers of their establishments. According to what was written, “the relevant departments are now undertaking studies relating to the suggestions.”

Beyond that, there isn’t a lot of information that is accessible, but we do know that the product is only going to be available for verified clients in the Philippines. In the not-too-distant future, a more significant announcement is anticipated.

It’s possible that this may be a crucial lifeline for the casinos. As a result of the limits imposed by the Covid-19 pandemic in March, they were compelled to shut down their operations. As of right now, they are only permitted to operate at a restricted capacity of thirty percent. The City of Dreams Manila has seen a drop in revenue of up to 96 percent as a direct consequence of this, and it is highly unlikely that the other casinos are faring any better.

The persistent departure of Philippine Offshore Gambling Operators (POGOs), in the meantime, has caused PAGCOR to experience difficulties with their own revenue collection. It was reported in the middle of October that the regulator will begin pushing for domestic online gambling; however, it was speculated at the time that everyone could need to wait until President Rodrigo Duterte’s term in office ends in 2022 for anything to happen.

After that point, everything moved along at a rapid pace. Just a few days later, the regulator body made the suggestion that giving legal online cockfighting may be a win-win situation. This would bring in additional revenue while also providing a safer environment for Filipinos to wager on one of their most popular sports.

Everyone who was involved has, at this point, come to terms with the realities of the situation. There is no way to prevent the POGO company from leaving China, and the more competitive market there may even hasten its exit. And because COVID-19 is expected to continue to restrict travel for the foreseeable future, PAGCOR and the casinos need to find out a method to begin allowing more Filipinos to bet securely, and the way to accomplish this is by moving the gambling activity online.

PAGCOR Has Decided to allow Traditional Casinos to Operate Online Gambling Operations

REGULATOR The Philippine Amusement and Gaming Corp. (PAGCOR) has stated that it will enable conventional brick-and-mortar casinos to provide gaming activities online to domestic gamblers exclusively, subject to license.

In a session held by Asia Gaming Brief on Wednesday, PAGCOR Chairman and Chief Executive Officer Andrea D. Domingo stated that the organization will open up the application process to all traditional casinos in the Philippines.

Ms. Domingo proposed that casino-based online gaming, which she referred to as “live shots,” should only be made available to gamblers located in the United States and that participation from children should be prohibited.

Gambling that is conducted through live shots will be subject to a variety of security checks, including tracking technologies, facial recognition, and monitoring, to guarantee that all actions are conducted in accordance with gambling regulations.

Ms. Domingo stated that applicants are required to pay a P100,000 application fee and must have the appropriate software before beginning operations for online gaming. PAGCOR must receive 25 percent of approved operators’ gross gaming revenue (GGR), and approved operators must also pay the Bureau of Internal Revenue a franchise tax that is equivalent to 5 percent of GGR.

According to Ms. Domingo, the casinos located in Okada Manila, City of Dreams Manila, and another casino in Subic that must remain nameless were the first to file for licenses and are currently in the process of software testing.

She explained that “we are really very careful that we are able to control properly,” not just for the sake of increasing revenue but also because “we don’t want those who are not qualified and who is not authorized by law to play.”

Ms. Domingo also mentioned that PAGCOR has provided the Office of the President with a set of recommended rules for the regulation of online cockfighting, which is also referred to as “online sabong.”

She stated that despite a significant drop in earnings during the first nine months of the year because of the lockdown, it is anticipated that PAGCOR’s net earnings will be positive by the end of the year.

“It’s getting better. Even though we were closed for seven to eight months, when we reopened in September, business was quite slow; however, beginning in October, business picked up significantly, and as a result, we were able to reach all of our revised objectives… She stated that it is likely that our revenue would be between P33 and P34 billion by the end of the year 2020.

In the nine months leading up to September, PAGCOR’s net profit was down 97 percent year on year, coming in at P132.675 million.

She stated, “In 2021, we see that there are many other choices that we can go into, so I anticipate starting in the second quarter of 2021, we’ll be doing as well as what we did in 2019.” “In 2021, we see that there are many other options that we can go into.”

As more individuals go digital during the pandemic, Ms. Domingo anticipates that there will be a significant increase in the popularity of online gaming in the near future.

She stated, “I think the (online market) is greater than the one we have now with the bricks and mortar scenario because anywhere there’s internet, they can bet for as long as they are qualified.” “I think the (online market) is bigger than the one we have now with the bricks and mortar situation.” Beatrice M. Laforga is the author.

Pagcor Issues a Public Warning About Illegal Gambling Opportunities Available Online

The regulator in charge of regulating casinos and gaming in the Philippines has cautioned members of the general public against participating in unauthorized online gambling or bingo games. In a notification published on Monday, it was said that similar conduct had been seen during the Covid-19 incident. However, this strategy is routinely used to cheat customers out of money through other means, including the theft of personal information.

A statement from the Philippine Amusement and Gaming Corp (Pagcor) stated that it was “dedicated to the prosecution of those participating in such illegal operations, because of the significant relationship” between illegal gambling and organized criminals “who are also engaged in credit card fraud, identity theft, [and] money laundering,” among other things.

Pagcor stated that it had evidence that “some people” had been taking advantage of the “uncertainties presented by the Covid-19 pandemic” in order to “scam your money, steal your financial information, and exploit your identity for illegal reasons,” via illegal bingo games and Internet-delivered gambling “using Facebook,” a social media platform, to “promote such illegal actions.” Pagcor stated that it had received this information.

According to the notification, “Pagcor and other government agencies” are the only organizations and individuals that are legally allowed to run gambling establishments in the Philippines.

Pagcor included the following warning in its advice to customers: “Betting on such illegal forms of gambling is likewise a criminal offense.”

As a preventative step against the pandemic, land-based casinos in Metro Manila and some other locations have been shut down since the middle of March. It was anticipated that they would continue to be shuttered until at least the end of Tuesday (June 30). Some casinos in other regions of the country were given permission to reopen at the beginning of June, providing that adequate safety precautions were taken.

It was discovered at the beginning of May that Pagcor had authorized a “partial restart” of activity in the Philippine Offshore Gaming Operator (POGO) sector. This “resumption” of business came with certain protections and the proviso that any overdue taxes or fees had been paid. POGOs are locally-based online gaming operators that have been granted licenses to serve clients in other countries. Pagcor has said that the reason for the decision to enable a partial restart of the POGO sector is to assist the national government in “raising required money to confront the new coronavirus 2019 (Covid-19) pandemic.”

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