Pagcor revokes 124 online gaming licenses

Philippines’ Pagcor has already revoked 124 online gaming licenses under President Duterte’s new directives to curb online gambling, reports The Inquirer.

According to the Pagcor head, the potential financial impact could be up to P10 billion (US$210 million), but is not expected to hurt the agency’s revenue target of P50 billion next year.

Andrea Domingo, Pagcor president and chief executive officer, said an executive order setting policy on online gaming is being readied.

The projected losses will be realized once Pagcor does not renew the licenses of 302 e-Games stations and 324 e-Bingo outlets, which cater to local punters, said Domingo.

The regulator is also putting together a task force on illegal gambling, in cooperation with the Gaming and Amusement Board, Philippine National Police and the National Bureau of Investigation.

Bernstein said the news is likely positive for Macau’s gaming industry.

“We note that this is likely a net positive for Macau gaming as online gaming in Philippines often target Chinese gamers – albeit at a small scale,” said the brokerage in a note on Monday.

“The larger implications would be whether the government’s stance towards casino gaming hardens (especially in light of tightening anti-money laundering rules). The Philippines casino market has been a share taker in VIP in Asia (with a rising share of video proxy and side betting in the market). Any impediments to existing VIP practices in the Philippines could lead to some VIP business migrating back to Macau (although we do not see this happening in the near term),” said the brokerage.

Related Articles

PAGCOR donates US$7.2 million for cancer treatment machine

THE Philippine Amusement and Gaming Corporation (PAGCOR) has donated PHP350 million to the Southern Philippines Medical Center (SPMC) for the procurement of a machine used for cancer treatment.
life after pogos

Life After POGOs online forum attracts 420 attendees

Asia Gaming Brief's "Life After POGOs" pop-up forum on 9th December was a stellar success, with over 400 participants attending the important discussion.
Andrea Domingo, Pagcor

Interview with Andrea Domingo: Pioneering online convergence in the Philippines [video]

Andrea Domingo, chair of the Philippine Amusement and Gaming Corp. (PAGCOR), speaks with Asia Gaming Brief managing editor, Sharon Singleton, about the introduction of licenses allowing online gaming to be offered to Filipino citizens for the first time.
Online licenses welcome for casinos, but conditions limit appeal

Online licenses welcome for casinos, but conditions limit appeal

The Philippines’ decision to issue online gambling licenses to local casinos is likely to present interesting opportunities for suppliers, but the terms won’t create significant  business growth for the operators.
Andrea Domingo

AGB to interview PAGCOR chair during “Life After POGOs” forum

Andrea Domingo, chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR) has just confirmed her participation in Asia Gaming Brief's December 9 online forum titled "Life After POGOs".

Construction launches for PAGCOR-funded hospital in Pampanga

PAGCOR Chairman and CEO Andrea Domingo was the guest of honor in Pampanga at a construction launch ceremony for a 100-bed Overseas Filipino Workers (OFW) hospital project.

Domingo hopes casinos to reopen in June, take down NOGOs

PAGCOR Chairman and CEO Andrea Domingo on Tuesday said she hopes to see gaming operations reopen gradually from the beginning of June. The chairwoman was speaking through a digitally delivered keynote session as part of ICE Asia Digital 2020.  “In the Philippines, we are suffering as much as everybody else. [Perhaps] to a lesser degree […]

Suncity joins Covid-19 relief efforts in Philippines

Suncity Group’s Philippine unit has donated P50 million ($1 million) worth of personal protective equipment to 40 public hospitals in Luzon province to help battle the coronavirus.

Domingo sees 40 percent drop in GGR

PAGCOR chief Andrea Domingo has revealed that GGR in the Philippines is plunging by around 30 percent to 40 percent since February. “It’s not meeting its target,” Domingo told local reporters, noting the PHP290 billion (US$5.8 billion) GGR national goal is likely to be missed. She added, “Right now, the only ones who are meeting […]

PAGCOR’s Domingo: a quarter of all POGO workers are Filipinos

In an effort to stave off the perception that the POGO industry serves only the benefit of the Chinese, PAGCOR chief Andrea Domingo has insisted that about a quarter of all people working at these companies are, in fact, Filipinos. “While POGOs cater to foreign customers and employ foreign customer service representatives who could effectively […]