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

PhilippinesSunday, Jul 23, 2017

Another loan sharking syndicate operating in Metro Manila’s casinos has been identified by Philippine authorities.

PhilippinesSunday, Jul 23, 2017

PCSO chair Jose Jorge Corpuz says he is willing to meet with PNP chief Ronald “Bato” dela Rosa to “clear gray areas” in their fight against illegal gambling.

PhilippinesThursday, Jul 20, 2017

The Philippines Charity and Sweepstakes Office is planning to cut funding to the Philippine National Police (PNP), because of what they describe as PNP’s ‘anemic’ performance in their campaign against illegal gambling.

PhilippinesThursday, Jul 20, 2017

A Singaporean woman has been rescued by Filipino authorities after being kidnapped by three men and a woman at Solaire Resort and Casino on Tuesday.

PhilippinesThursday, Jul 13, 2017

The Udenna Group, developer of the Lapu-Lapu Leisure Mactan integrated resort, is set to complete the funding requirements needed for development.

PhilippinesSunday, Jul 09, 2017

Philippines gross gaming revenue is expected to grow 26 percent year-on-year in 17Q2, driven by proxy betting attracting foreign VIP revenues, along with a low sequential growth in mass, says Morgan Stanley.

PhilippinesFriday, Jul 07, 2017

Resorts World Manila, which was attacked by a lone gunman last month, is planning to build a new gaming zone and win back the trust of its customers.