Pagcor announces new offshore license category

State-run gaming regulator PAGCOR has announced a new category of offshore license for “Sports Betting on Regulated Wagering Events.”

According to an announcement dated May 3, 2017, the special class of sports betting refers to “an offshore gaming operator that accepts and/or facilitates wagers on regulated gaming events” which includes horse and dog racing. It also allows for companies to provide live event audio and visual feeds of regulated gaming events, as long as it has express permission from the event to do so.

The applicant must also adhere to the regulated event’s fees and tax requirements, as required by the foreign authority.

Holders of the special licenses will be required to remit to PAGCOR 1.5 percent of their gross gaming revenue on a monthly basis, along with all other fees normally associated with PAGCOR licensing.

More news from this jurisdiction

PhilippinesTuesday, Nov 14, 2017

Bloomberry Resorts would see its debt levels rise and a reduction in return on invested capital in the short term if it buys the land on which its Solaire Resort & Casino is based, though longer term it may improve valuations, according to Morgan Stanley.

PhilippinesMonday, Nov 13, 2017

The owners of Resorts World Manila is planning to introduce the country’s first Ritz Carlton Hotel by redeveloping its Maxims Hotel, local media reports.

PhilippinesMonday, Nov 13, 2017

The Asian Poker Tour (APT) has announced it has signed a new three-year exclusive agreement to run its tournaments at Resorts World Manila.

PhilippinesSunday, Nov 12, 2017

The Philippine Amusement and Gaming Corporation (PAGCOR) is launching an auction for two parcels of land currently occupied by Bloomberry’s Solaire Resort and Casino.

PhilippinesSunday, Nov 12, 2017

Philippines-listed Travellers International, operator of Resorts World Manila, reported a loss of P407.9 million for the third quarter of 2017.

PhilippinesFriday, Nov 10, 2017

Bloomberry Resorts Corporation (BLOOM PM), owner and operator of the Solaire Resort & Casino and Jeju Sun Hotel & Casino, posted record Q3 mass table drop and gross gambling revenue from electronic gaming machines, while VIP volumes slipped.

PhilippinesThursday, Nov 09, 2017

Universal Entertainment Corp has announced its plans to start operating its all-weather beach club, nightclub and space, Cove Manila, starting in December.