The Philippine Amusement and Gaming Corp. (Pagcor) is forging close collaborations with other government and law enforcement agencies to establish offices within an accredited hub, a move aimed at safeguarding the integrity of the country’s gaming industry.
In a bid to combat any unlawful activities linked to offshore gaming operations, Pagcor has placed all licensees and service providers under probationary status.
It has mandated them to undergo reapplication for a license until September 17, 2023.
Speaking at the Senate committee hearing on August 2, Pagcor’s Assistant Vice President for offshore gaming licensing, Atty. Jessa Fernandez, made it clear that “Entities with findings of activities outside their granted license or accreditation will not be granted a license under the new framework.”
“Likewise, licensees or service providers who shall not re-apply or were granted license within the given period shall be endorsed for cancellation,” Fernandez emphasized.
In the existing framework, all service providers accepting bets are required to apply for a license, with strict evaluations of the beneficial owners of these companies to ensure accountability in the event of any involvement in illegal activities.
As part of the comprehensive reforms implemented, Pagcor now enforces stricter sanctions on all erring licensed offshore gaming operators and accredited service providers.
The reforms include intensified inspection and verification of compliance, submission of reports to enforcement agencies for investigation and verification, enhanced coordination with relevant government bodies, and more stringent implementation of regulations with heavy penalties for those found to be in violation.
The Philippine Offshore Gaming Operations (POGO) has become a significant contributor to the country’s tax base.
Last year, POGOs made record-high tax payments of P8.78 billion, marking a 125 percent increase from the P3.91 billion taxes paid in 2021. Furthermore, it represented a 23 percent surge over the previous record set in 2020, when POGOs paid P7.18 billion in taxes.
