Philippine government starts POGO shutdowns
The Philippine government has established a multi-agency task force to manage the closure of 41 licensed Philippine Offshore Gaming Operations.In July 2024, the president...
Philippines to reduce gaming license fees
Starting in January 2025, the Philippine Amusement and Gaming Corporation, Pagcor, will cut gaming license fees.
The Philippines, officially the Republic of the Philippines, is an archipelagic country in Southeast Asia that has around 50 casinos. On September 10, during a gaming summit in Manila, Pagcor chairman and CEO Alejandro Tengco talked about a decision to cut gaming license fees in the Philippines.
Starting January 1, 2025, license fees for land-based operators will decrease from 35% to 30%, while resort operators offering iGaming will see a reduction to 25%.
Tengco said:
“The grey market or underground market was doing … way better than Pagcor. And licensees were closing shops, primarily because they could not compete anymore with the grey market. Lower fees will put the Philippines at par with global industry standards, (and) attract and keep more investors.”
Phillippines fights aganist illegal gambling
Phillippiness has always been fighting against illegal gamblin in the country. Earlier this year, the tax on gross gaming revenue (GGR) was lowered from 55% to 35%. PAGCOR Chairman Tengco expects the gaming industry to achieve ₱335 billion in GGR this year, marking a 17.91% increase compared to 2023. This growth is seen as a way to offset losses caused by the recent ban on Philippines Offshore Gaming Operations (POGOs), which could lead to an annual revenue loss of ₱20 billion.Moreover, with this move, it is possible to exit from the FATF Grey List.
FAQs
Is gambling legal in the Philippines?
Gambling is legal in the Philippines, regulated by the Philippine Amusement and Gaming Corporation (PAGCOR) and other local authorities.
What is the legal gambling age in the Philippines?
The legal gambling age in the Philippines is 21 years old for casino gambling and 18 years old for lotteries and other forms of betting.
What will the new license fees be for land-based operators and resort operators offering iGaming ?
License fees for land-based operators will decrease from 35% to 30%, while resort operators offering iGaming will see a reduction to 25% starting in January 1, 2025.
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POGO Ban: A step toward FATF Grey List exit?
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