PAGCOR converts provisional IGL to Full Licenses

The Philippine Amusement and Gaming Corp (PAGCOR) has converted 13 provisional “Internet Gaming Licensee” (IGL) permits to full ones, as revealed by materials issued by PAGCOR, the country’s gaming regulator.

PAGCOR’s Offshore Gaming Licensing Department issued the permits, according to an undated regulatory paper reviewed by GGRAsia and compared with the previous list. The latest list shows nine entities remaining on the “provisional license” roster, with one entity subject to an “approved voluntary suspension.”

Converting 13 of the 23 provisional license increased the number of IGL permit holders authorized to offer gaming to offshore customers to 40. Authorities cancelled the licence of Zun Yuan Technology Inc, a previous provisional holder, after a March raid on its premises.

The PAGCOR board approved new regulations for offshore gaming operators, now referred to by the IGL initials, in July last year. Previously, the regulatory regime for offshore gaming businesses referred to “Philippine Offshore Gaming Operators” or POGOs.

The regulator had stated that some former POGO licensees had discredited the sector due to tax avoidance, illegal employment, and failure to pay proper fees.

In its first-quarter earnings statement late last month, PAGCOR reported that offshore gaming operations contributed just under PHP860.9 million – or 3.9 percent – of its quarterly gaming revenues, which totaled PHP22.29 billion.

Related Posts