The Philippine Amusement and Gaming Corporation (PAGCOR) is going to further lower its license fees on integrated resorts’ online gaming revenues to 25 percent, effective from January 1st, 2025.
PAGCOR Chairman Alejandro H. Tengco made the statements at the IAG Academy Summit on Tuesday.
In June, at G2E Asia in Macau, PAGCOR’s Chairman had indicated that the tax rate would be lowered to 30 percent by January 1st, due to the particular success of the eGames sector.
Rates are currently at 35 percent, having been lowered from around 55 percent before Tengco’s arrived in office.
The lowered rate will only apply to online gaming GGR of integrated resort operators, aligning it with the current taxation on mass gaming tax rates.
Speaking at the Tuesday event, Tengco noted that the move “should also encourage illegal online gaming operators to abandon the grey market and hopefully embrace the mainstream. PAGCOR will likewise continue to implement rational regulatory policies, monitor our licensees’ compliance and strengthen our cooperation with other government and law enforcement agencies to crack down on persistent illegal online gaming operations,” reported IAG.
