3 E-Sabong applicants stalled as only Atong Ang, Bong Pineda could afford Pagcor’s fees | Bilyonaryo Business News

3 E-Sabong applicants stalled as only Atong Ang, Bong Pineda could afford Pagcor’s fees

Three applicants for electronic cockfight betting, or E-Sabong, are in limbo as their owners have balked at the high fees required by the Philippine Amusement and Gaming Corp.

The three companies with pending E-Sabong applications are Encuentro, Magnus, and Oriental Capital Venture.

So far only, gaming tycoon rivals Charlie “Atong” Ang (Lucky 8 Star Quest) and Bong Pineda (Belvedere Vista) have been granted a license to offer off-site wagering on live cockfighting events streamed live from cockpit arenas under the supervision of local government units.

Ang operates “Pitmasters Live” on wpc website while Pineda runs “Sabong Express” on sabongexpress.com.

Pagcor Chair Andrea Domingo said the three firms would get their notice to commence only after agreeing to the gaming monopoly’s terms – P75 million bond and fixed regulatory fee of P12,500 per fight or P75 million per month (or 200 fights per day excluding fights that end up in a draw).
The source said the three firms balked at Pagcor’s minimum monthly guarantee and were haggling for a lower rate.

Sky is the limit on betting in E-Sabong as Pagcor has only imposed a minimum bet of P100 per fight. The bets are subject to a flat fiver percent franchise tax which shall be remitted to the Bureau of Internal Revenue.

The E-Sabong operator can take bets through Pagcor-accredited electronic gaming sites or mobile platforms.

Only bets placed and cockfights held in the Philippines are allowed under E-Sabong. Operators are required to impose strict registration requirements (such as video calling prior to log-in and biometrics verification either through facial recognition and fingerprint or iris scanning) to ensure age restrictions.

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