GGRAsia – Pagcor cancels accreditation of offshore gaming provider

Pagcor cancels accreditation of offshore gaming provider

May 24, 2023 Newsdesk Latest News, Philippines, Top of the deck

State-run Philippine Amusement and Gaming Corp (Pagcor) says it has cancelled the accreditation of CGC Technologies Inc (CGC), which had once been an approved offshore gaming customer-relations service provider.

The move came after the gaming regulator issued last week a “stern warning” to Philippine Offshore Gaming Operators (POGOs) against involvement in criminal activities.

CGC’s accreditation had already been suspended, as the firm was suspected of involvement in credit card fraud, serious illegal detention, and human trafficking activities, a Wednesday statement by Pagcor mentioned. CGC’s facilities (pictured) were raided by the Philippine authorities earlier this month.

“Investigations confirm that CGC, an accredited service provider operating under offshore gaming licensee Oriental Game Ltd, was involved in criminal activities thus warranting the cancellation of its accreditation,” stated Pagcor in its latest announcement. “It was also found that CGC violated some of the conditions attached to its accreditation.”

The regulator added: “Alongside the cancellation order is the forfeiture of CGC’s performance bond effective immediately.”

Pagcor also said it imposed a fine of US$350,000 to POGO licence holder Oriental Game, “for its failure to ensure the legitimate conduct of CGC’s business”.

Pagcor’s chairman and chief executive, Alejandro Tengco, reiterated in the announcement that all offshore gaming licensees and service providers must “abide by the Philippine laws to avoid severe consequences”.

“Continued operations despite the cancellation of their accreditation or licences shall be considered illegal. Immediate action will be taken against those who are engaging in such,” stated Mr Tengco.

He added: “Through proper regulation and cooperation with our law enforcement agencies, we will continue to ensure that revenues from regulated gaming will be used for more worthy causes, especially nation-building.”