PAGCOR attributes rise in gaming revenue to strict enforcement of regulations
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The Philippine Amusement and Gaming Corporation (PAGCOR), the regulatory authority in the gaming and gambling industry in country, has attributed the increase in the igaming revenue for 2018 to the strict enforcement of gambling regulation.
The Philippine offshore gaming operators (POGO) have improved their revenues.
Andrea Domingo, the top official at PAGCOR, said that POGO collected PHP657 million in 2016, when they were first allowed in the country, in revenues. In 2017 the revenues rose to PHP3.924 billion and in 2018 POGO revenues almost doubled to PHP7.365 billion.
According to Domingo, this gradual rise is because of PAGCOR’s strategic moves including working with other government agencies to successfully enforce the igaming laws in the country.
In 2017, there was an executive order given by Philippine president Rodrigo Duterte which called for multiple agencies to work against illegal online gambling. The executive order also classified the roles and responsibilities of the government agencies to avoid any potential conflict.
2017 executive order also reinforces PAGCOR’s authority to regulate all games of chance including online casinos, sports betting, etc.
In their statement, PAGCOR stressed on their co-operation with the other agencies over the past two years. PAGCOR has also been involved in a controversy over an ordinance brought in by the Mayor Quezon City as it has opposed the Mayor’s move citing that Quezon City has no such authority according to the executive order from the President.
Source: Latest News on European Gaming Media Network
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