Asia
PAGCor Says 188BET’s Return to the Philippines a Huge Vote of Confidence
The Philippine Amusement and Gaming Corporation (PAGCor) today said that it welcomes the decision of online gaming giant 1888BET to move its operations from the Isle of Man back to the Philippines.
The Chairman and Chief Executive Officer for PAGCor, Alejandro H Tengco, said 188BET’s return ‘is a huge vote of confidence for the country as a regulatory haven and this is precisely what PAGCor is working hard at’.
“188BET’s move is a very positive response to our call for gaming investors to come to the Philippines,” Tengco said. “We would like to assure 188BET and other potential investors that PAGCor shall continue to be fair to everybody and that there will be a level playing field with a predictable and dependable regulatory framework.”
188BET announced its decision to move its operations to the Philippines earlier this week. The sports betting and casino company said that, effective March 19, its current operator, Cube Limited, will surrender its current Io MGSC licence in the Isle of Man and that 188BET will be operated by a new Philippines-based company, BestCommerce Corporation, which is licensed and regulated by PAGCor.
Tengco encouraged other investors to ride on the Philippine gaming industry’s growth momentum.
“Overall, the industry can expect sustained growth in the next five years with at least one integrated resort (IR) opening every year beginning this year in Quezon City to be followed by new IRs in Cebu, Clark and other equally strategic locations,” Tengco said.
He added that the industry can also expect PAGCor’s full decoupling from its casino operations within that time frame to become a purely regulatory entity dedicated to overseeing growth and attracting more investments.
“We shall also continue lowering our license fees and modernizing our systems to help realize our vision of making the Philippines the gold standard in gaming in the Asia-Pacific region,” Tengco said.
188BET used to hold office in Makati but it moved out of the country during the administration of former President Rodrigo Duterte.
Asia
PAGCOR BRAVES FLOODS TO HELP DISASTER-HIT COMMUNITIES
At the height of the downpour and massive flooding in Metro Manila and nearby provinces Wednesday, volunteer teams from the Philippine Amusement and Gaming Corporation (PAGCOR) started bringing relief packs to affected communities.
Classes and government work were suspended on Wednesday and Thursday due to the widespread flooding, but PAGCOR volunteers went into action nevertheless.
“Even at the height of the flooding, and even before the President ordered government agencies to provide assistance to affected communities, PAGCOR employees already went to action to help those in need,” PAGCOR Chairman and CEO Alejandro H. Tengco said.
The PAGCOR chief said that since July 24, the agency has delivered more than 21,000 food and non-food relief packs for thousands of affected families.
“After the heavy rains subsided and it was safe to do so, we started bringing immediate aid to flooded communities in Caloocan City on Wednesday, followed by relief operations in Valenzuela, Malabon and Malolos, Bulacan the next day,” he said.
Mr. Tengco added that PAGCOR was scheduled to distribute relief goods to the cities of Marikina and Navotas on Friday as well as to affected towns in Bulacan like Calumpit and Bulakan which were all submerged in floodwater.
“It has been second nature to PAGCOR to immediately respond to the needs of affected communities in times of disasters,” he said.
“We understand that while it is part of our mandate to contribute to nation-building, it is also our moral obligation to help ease the plight of Filipinos in times when they need help the most,” the PAGCOR chief added.
He said PAGCOR’s relief operations are ongoing, with more employees volunteering to help repack relief goods Saturday and Sunday in the agency’s warehouse in Imus, Cavite to support distribution efforts in the coming days in Bataan, Batangas and Cavite.
Asia
AGTech Wins Lottery Terminal Supply Tenders for Shaanxi, Zhejiang and Jiangsu Provinces
Lottery and integrated technology and services company AGTech Holdings Limited (AGTech) has announced that one of its wholly-owned subsidiaries has successfully won procurement tenders to supply lottery terminals to Sports Lottery Administration Centres in Shaanxi province, Zhejiang province and Jiangsu province of the People’s Republic of China.
AGTech already has previous success in the China market, having won a bid in 2018 for supplying its new dual, touchscreen lottery terminals to the Chinese provinces of Guizhou, Shanghai and Hebei.
Even before this, AGTech introduced new instant win games, launched in partnership with Chinese logistics firm SF Holdings across Shenzen, Nanchang, Changsha and Nanjing.
Asia
Philippine President Marcos Announces Ban on POGOs
Philippine President Ferdinand Marcos Jr has banned the establishment of any new Philippine Offshore Gaming Operators (POGOs), also known as Internet Gaming Licensees (IGLs), with immediate effect. Existing POGO operators will have until the end of the year to wind down their operations.
The verdict, not entirely unexpected, was delivered during his State of the Nation Address in Manila on Monday following widespread pressure from a Senate investigation into illegal POGO-linked activities.
“Effective today, all POGOs are banned. I hereby instruct [gaming regulator] PAGCOR to wind down and cease the operations of POGOs by the end of the year,” Marcos said in his SONA.
The decision to shut down POGOs follows a series of recent raids on illegal POGO compounds in Pampanga and Tarlac amid allegations they had been engaging in human trafficking and scam activities.
A full ban, proposed by multiple senators, had also gained the support of the Department of Finance (DOF) and the National Economic and Development Authority.
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