PAGCOR Implements New Regulatory Framework to Combat Offshore Gaming Activities
Published August 9, 2023 by OCR Editor
PAGCOR, the Philippine Amusement and Gaming Corporation, has introduced a solid regulatory framework to tackle unlawful offshore gaming activities. To crack down on unauthorized operations and encourage compliance, all licensees and service providers must reapply for approval before September 17 this year.
The Philippine Amusement and Gaming Corporation (PAGCOR) is taking a firm stance against illegal offshore gaming by introducing a comprehensive regulatory framework. This strategic move is part of inter-agency efforts to address unauthorized activities within the country's gaming landscape.
Key to the new measures is the probationary status assigned to all licensees and service providers. In line with the framework, they must reapply for approval before the cut-off date of September 17 this year. This requirement aims to ensure that all operators and service providers adhere to the regulatory standards set by Pagcor and comply with legal requirements.
Jessa Fernandez, Pagcor's assistant vice president for offshore gaming licensing, emphasized the importance of obtaining a license for service providers accepting bets. Additionally, the framework focuses on evaluating the beneficial owners of these companies, holding them accountable for any involvement in illegal activities.
Those who operate outside their granted license or accreditation will not receive a new permit under the revised framework. Additionally, licensees or service providers who fail to reapply within the designated period will face cancellation.
Pagcor's actions show a significant effort to reduce illegal offshore gambling in the Philippines. The regulatory body has collaborated with other government and law enforcement agencies to strengthen its efforts, even setting up offices inside accredited hubs. Moreover, Pagcor has implemented reforms, imposing stricter sanctions on licensees who break established rules.
The updated framework includes more compliance inspections for licensees and requires them to submit reports to enforcement agencies for further investigation. Pagcor is dedicated to enforcing regulatory guidelines and will impose significant penalties on operators who fail to comply.
In addition to addressing illegal offshore activities, Pagcor focuses on unlicensed land-based gambling. In June, a raid was conducted against Xinchuang Network Technology Inc (Pogo) due to allegations of criminal activity. In May, Pagcor revoked the license of Sun Valley Clark, and CGC Technologies faced the same consequence for occupying six buildings within Sun Valley's hub.
In a progressive move, Pagcor also revealed its plans to launch its online casino, Casinofilipino.com, in the first quarter of 2024. This initiative forms part of Pagcor's modernization plan, aiming to provide consumers across the Philippines with a legal and regulated online gambling platform.
As Pagcor strengthens its regulatory efforts and modernizes the gaming industry, players and stakeholders can anticipate a more secure and responsible gaming environment in the country.
