PAGCOR, the regulatory authority for sports betting and casino gambling in the Philippines, has indeed had a busy week. They have decided to implement two significant changes that are sure to severely change gambling in South East Asia.
Privatization of land based casinos
According to reports, the Philippine Amusement and Gaming Corporation has decided to sell all of their 46 land based casinos by the end of 2017. The main reasons indicate a conflict of interest, given that many claims have arisen about unclear procedures regarding the regulation of competing casinos. However, according to finance secretary Carlos Dominguez, the decision was mostly taken in order to raise funds for the state, as it is projected that it will be impossible to keep up with foreign competitors.
New licences for sportsbetting
Additionally, PAGCOR will implement a new licensing system, specifically designed for wagering on sportsbetting events. The new licences are deemed necessary to any operators that wish to receive bets on "such events as horse or dog races, but not limited to them”. Any bookmakers that successfully apply for the new sportsbetting licences, will have to pay the according fees to PAGCOR, plus 1.5% of their monthly GRR.