As per the latest newsfeed, Philippines is all set to provide online gambling companies with more POGO licenses. The Philippine Offshore Gaming Operator license is a talked about venture, which finally came into being. The current PAGGOR chair, Andrea Domingo was heard telling the reporters in news conference at ASEAM gaming summit regarding the second batch of the gaming operators online, who are likely to receive this license. And these are going to be awarded to them.
Number of applications and more:
At present, there are practically 78 applications, right in front of him, and all trying to get that POGO license. However, not all of them have the liberty to get those licenses, as only a few are entitled to get it. In the speech, Domingo was heard emphasizing more on the importance, which POGO licenses hold in achieving the PAGCOR’s current PHP60 billion. It is likely to exceed to PHP65 billion as the current revenue target of this year, 2017.
More on PAGCOR collection:
Recently, PAGCORwas known to collect more than PHP1 billion in processing and licensing fees. It was done when the team issued 35 offshore gaming licenses. And these are associated with the last fall as major part of initial roll out. This roll out was a significant part of the new gaming regime, as created by Duterte administration.
As per the rules and regulations implemented, with each licensee, Pagcoris known to be charged processing and application fees of the current $50,000 noted for e-casino. And it was also be charged of $40,000 for the sports betting sector. And upon the approval of the license, another round of $200,000 and $150,000 will be marked respectively.
Safeguard the welfare:
The main aim of this POGO license is to currently safeguard the Filipinos welfare, alongside matching the revenue target of agency. Here, it helps in funding government in its nation building programs. This is a noble cause, by stated by the members of the POGO community and this license is surely going to give some new working realms to the online casino owners.
Bidding out online gaming contracts:
Domingo further announced that it is trying to bid the service contract out for the online gaming operators. And these are mostly associated with the e-Games network. It was stated that the state regulator was known to have already approved the reference terms for creating e-Games network. Now, the public bidding of the e-games network will take place by the end of this month or even within April’s first week.
Previously, the state regulator awards the service contract of certain online gaming sectors automatically. And it was given to the gaming technology provider of Philippines, PhilWeb Corporation. But now, it was decided by PAGCOR that this current awarding of service contract is likely to take place through a certain public bidding, after following the Republic Act 9184. This is going to enhance a fair play among other online gaming operators, and no one is going to be given any extra privilege. It is going to be a game changing option for all.