The Philippine Entertainment and Gaming Corporation (Pagcor) has announced details of a new regulatory framework for offshore gaming licenses.
The new framework, which has been in effect since last month, is part of interagency efforts to combat illegal offshore activities in the country.
The prominent measure is that all licenses and service providers are advertised as trial periods. They will need to reapply for approval from Pagcor before the 17 September deadline this year.
Operators and providers operating illegally will not be considered for a new license.
Jessa Fernandez, Pagcor’s vice president of overseas gaming licenses, said: “Under the current framework, all service providers accepting bets are required to apply for a license.”
“We will also evaluate the usufruct owners of these companies so that they will be held responsible if they are found to have engaged in any illegal activity.
“Institutions with evidence of activity other than the license or accreditation granted will not be licensed in the new framework. Likewise, license holders or service providers who do not apply for a new license in due time or who have been granted a license, also approve the cancellation process.
Pressure on illegal activities
The announcement is Pagcor’s latest attempt to combat illegal overseas gambling in the Philippines.
Pagcor works closely with other government and law enforcement agencies to establish offices at an accredited center. The regulator has also introduced reforms to impose stricter sanctions on licenses that violate the rules.
Other reforms currently being implemented include monitoring compliance among licensees, as well as submitting reports to executive agencies for further investigation. Pagcor has also committed to severe penalties for operators who do not comply with regulations.
In addition to combating illegal offshore activities, Pacgor also targets unlicensed land-based gambling.
In June, Pagcor launched a raid Against Xinchuang Network Technology Inc (Pogo). This came after receiving information regarding alleged criminal activities on the site.
In May, Pagcor also revoked a license. Valley of the Sun Clark. This is also the case of CGC Technologies, which occupies six buildings in the Sun Valley headquarters. license revoked.
Pagcor moves online
Efforts to combat illegal offshore gambling came as Pagcor revealed its plans last month. build your own online casino.
Casinofilipino.com, due to go live in Q1 2024, will allow consumers in the Philippines to legally gamble online through Pagcor.
Pagcor said the online casino launch forms part of its broader modernization plan. This also includes land-based activities located throughout the country.