The Philippine Amusement and Gaming Corporation (PAGCOR) has said that it has received 76 applications for new ‘offshore’ gambling licences in the country.
Speaking yesterday (Monday) to local media, Andrea Domingo, chief executive of the PAGCOR, said the national regulator hopes to grant 25 licences before the end of the month.
The first licences, which will run for a period of one year, were due to be handed out last month.
Domingo said that the national regulator will use the first three to six months of the new regime to study the activities of licensed operators, adding that PAGCOR may change the “rules and regulations” accordingly.
Licensees, which will be known as ‘Philippine offshore gaming operators’, will offer online casino games exclusively to foreigners that are aged over 21 and based abroad, with foreigners in the Philippines and Filipinos residing abroad not able to access games.
Operators seeking a licence will pay $50,000 (€44,900) in application and processing fees for online casino and $40,000 for sports betting, in addition to a further $200,000 for a casino licence and $150,000 for a sports betting licence, upon receiving approval from PAGCOR.