Philippine Gambling News
First time for domestic online gambling
When we look back at 2020, regardless of business or geographical location, this has been a year of unprecedented disruption, whether personal or work related, to everyone’s way of life. Philippine leader says online gambling a boon to economy but reports show hundreds of millions in uncollected taxes. There are more than 100,000 Chinese nationals working in the online gambling. Philippine authorities said on Friday they arrested 342 Chinese workers in a raid on an unlicensed gambling operation, part of a crackdown on illegal migration and an illicit gaming industry that. Proxy betting is banned in Macau, which has been the Philippines’ gain. The practice has thrived in the Philippines, again by focusing on wealthy Chinese clients. But Philippine President Rodrigo. Three of the four casino resorts in Manila, the capital city of the Philippines, have gotten online gambling licenses that allow them to cater to domestic high roller customers. This comes as the country continues to deal with the COVID-19 pandemic.
Philippine Casino News
Three of the four casino resorts in Manila, the capital city of the Philippines, have gotten online gambling licenses that allow them to cater to domestic high roller customers. This comes as the country continues to deal with the COVID-19 pandemic.
Philippine Amusement and Gaming Corporation (PAGCOR) chairperson Andrea Domingo confirmed the issuance of the recently created Philippine Inland Gaming Operator (PIGO) licenses this week.
Philippines Online Gambling News
Universal Entertainment, Melco Resorts, and Bloomberry Resorts
The three recipients of these licenses were Universal Entertainment, Melco Resorts, and Bloomberry Resorts. The other casino resort in the city is under the operation of the Genting subsidiary Resorts World. This is the first time that licensed online gambling operators in the Philippines can welcome customers from within the country, albeit qualified high rollers.
The PIGOs’ gross gaming revenue will be subject to a 30% effective tax rate. 25% of the gaming revenue will go to PAGCOR, with the remaining 5% going to the Philippines Bureau of Internal Revenue.
In-person registration
Only known high rollers who are already a part of a licensee’s player database will be eligible to use these online gambling platforms. VIPs must register in person to gamble online; all deposits and withdrawals will go through a land-based PIGO casino.
Philippine Gambling Laws
The reason for the in-person requirement is to make sure that only people who are physically located in the Philippines are using the PIGO platforms.
Philippine Casino News
it will be good to collect revenues and stop illegal gambling”
Speaking about the positives of these new licenses, Domingo said: “It will be good to collect revenues and stop illegal gambling because there’s a lot of illegal gambling.”
Online operators hope that they can launch their online operations in December. DFNN was the first gaming operator to receive a license, getting it earlier this week.
A tough year for casinos
Though COVID-19 cases have been stabilizing in the Philippines, there are still significant restrictions in place. This includes casinos, which are only permitted to have every second slot machine up and running and a limit of three players per table game. All entrants are subject to temperature screening and must wear face coverings while inside the properties.
VIP gamblers account for 10-15% of annual casino revenue in the Philippines. Casino revenue naturally has been significantly down in 2020 because of extensive shutdowns and restrictions. For the first three quarters of the year, gross gaming revenue fell 60% to $1.5bn.