• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Pagcor stops issuing online gaming licences: report

Jul 05, 2016 Newsdesk Latest News, Philippines, Top of the deck  


Pagcor stops issuing online gaming licences: report

The new head of the Philippine Amusement and Gaming Corp (Pagcor) has announced a freeze on the issuance of new online gaming licences, reported local media outlet the Manila Bulletin.

Pagcor is an operator of publicly owned casinos in the Philippines as well as the regulator for the country’s entire gaming industry, which includes privately developed casinos and gaming parlours.

“For now, we will freeze the issuance of licences for these types of games, and then review what the President said,” Andrea Domingo, the new chairwoman of Pagcor, stated in a radio interview, quoted by the Manila Bulletin.

The Philippines’ new President, Rodrigo Duterte, said during his first cabinet meeting last week that he planned to stop the proliferation of online gambling in the country and revoke existing licences.

President Duterte and his team have not yet provided further details on such plans, namely which firms or types of games would be impacted by a potential ban on online gaming in the Philippines.

Data quoted by the Manila Bulletin showed that the number of gaming machines enabled for online play soared during the administration of the previous president, Benigno Aquino. According to the media outlet, the number of e-bingo machines rose from 2,160 in June 2010 to about 12,000 currently; the number of e-games cafés jumped to 277 from 190.

Online gambling is legal all across the Philippines and is said to be very popular. There are also several gaming jurisdictions in the country authorised to issue online gaming licences; but such licences are issued on the basis that the gambling services are only accessible to players overseas, not to domestic ones.

The possibility of a ban on online gambling could have a negative impact on domestic online gaming operators such as Philippines-based PhilWeb Corp. The firm’s shares dropped by 22 percent on Friday, following the announcement by President Duterte; on Sunday the company voluntarily suspended trading of its shares on the Philippine Stock Exchange with effect until Wednesday inclusive. On Tuesday, the firm requested the trading suspension to be extended until Friday inclusive: PhilWeb’s management is scheduled to meet with the board of directors of Pagcor on that day.

“In view of unverified material information affecting the business of PhilWeb that will materially affect the investing public, we hereby request for a trading suspension in PhilWeb shares,” the firm stated in its original trading suspension request. The document did not provide details on the “unverified material information”.

PhilWeb in 2003 received a licence from Pagcor to launch a network of e-games outlets – featuring digital casino games, including versions of popular live table games such as baccarat and blackjack, and various slot machine titles – in the Philippines. The firm’s network at the end of 2015 included a total of 268 operational e-games outlets all over the Philippines, with more than 8,800 gaming terminals, indicates information from PhilWeb.

According to media reports, PhilWeb’s current contract with Pagcor is expected to expire on July 11, 2016.

(Updated at 9.40am, July 6)


  • tweet
Related articles
  • Metro Manila, thus Entertainment City, in GCQ to Jan 31
    Metro Manila, thus Entertainment City,...

    Dec 29, 2020  

  • Pagcor boss affirms some Ent City casinos have PIGO permits
    Pagcor boss affirms some Ent City...

    Dec 09, 2020  

More news
  • CNY 2021 unlikely to boost Macau casinos, say observers
    CNY 2021 unlikely to boost Macau...

    Jan 15, 2021  

  • Mass market play record 65pct Macau GGR in 4Q: govt
    Mass market play record 65pct Macau GGR...

    Jan 15, 2021  


Latest News

CNY 2021 unlikely to boost Macau casinos, say observers

CNY 2021 unlikely to boost Macau casinos, say observers

Jan 15, 2021  

Recent advisory notices issued by a number of local authorities in mainland China, calling on residents not to travel during the February Chinese New Year (CNY) break, further clouds the prospects...
Read More
Mass market play record 65pct Macau GGR in 4Q: govt

Mass market play record 65pct Macau GGR in 4Q: govt

Jan 15, 2021  

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Jan 15, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”

Vitaly Umansky, Kelsey Zhu and Tianjiao Yu

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • Sheldon Adelson, self-declared casino industry iconoclastSheldon Adelson, self-declared casino industry iconoclast January 13, 2021
  • Casino entrepreneur Sheldon Adelson dies aged 87Casino entrepreneur Sheldon Adelson dies aged 87 January 12, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Revamped Nüwa hotel reopens Feb 8, says City of DreamsRevamped Nüwa hotel reopens Feb 8, says City of Dreams January 12, 2021
  • Macau no guess if impact by China no CNY travel callMacau no guess if impact by China no CNY travel call January 12, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us