Pagcor (Philippine Amusement and Gaming Corp), the gaming authority of Philippines, justified its recently introduced moratorium on the casino licensing process. Alfredo Lim, President and Chief Operating Officer of Pagcor, said the move would help authorities safeguard the existing operators’ interests.
The moratorium puts a stop on issuing land-based casino licences by the government in order to protect investments that have already made in the country, as authorities explained during the World Gaming Executive Summit in Barcelona last week. Current casino licences are not affected by the measure and could benefit from it.
Five applications had been submitted to Pagcor before the moratorium was issued this month and, according to Lim, they would continue to be processed, meaning that the Philippine casino market could be further expanded this year. However, authorities did not reveal when the moratorium would lose effect.
Meanwhile, last month, the Parañaque City Council, located in the Philippines Islands, allowed Landing International Development Limited to install a new casino. According to the official reporters, the international gaming company is now able to invest and operate an integrated resort after leasing 9.5 hectares of land in May.
Source: FocusGamingNews
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