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PAGCOR issues 40 licenses to offshore gaming operators (IGLs)

The Philippine Amusement and Gaming Corp. (PAGCOR) has issued a total of 40 licenses to offshore gaming operators, known now as internet gaming licensees (IGL).

According to a report by OneNews, these operators, previously referred to as Philippine Offshore Gaming Operators (POGOs), generated PHP3.15 billion ($54.39 million) in revenue in 2023.

This represents just 4.31 percent of PAGCOR’s total gaming revenues, which amounted to PHP79.37 billion ($1.37 billion) for the year.

In a recent listing, PAGCOR also revealed that it has also issued nine provisional licenses to offshore gaming operators, with 40 regular IGLs and nine provisional IGLs issued as of May 15th.

In August of last year, PAGCOR mandated that all POGOs must reapply for licenses in compliance with revised regulations for offshore gaming operators.

The revised regulations, known as the “Internet Gaming Licensing Regulations,” took effect on July 12th, 2023.

This regulatory update was implemented following persistent controversies surrounding POGOs, particularly regarding the hiring practices of foreign workers.

Despite these issues, PAGCOR and various politicians still support offshore gaming, noting the revenue brought into the country and the jobs created by the sector.

AGBrief Editorial
AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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