A total of 76 companies have expressed interest to the Philippine Amusement and Gaming Corporation (PAGCOR) in the initial 25 offshore gaming licenses scheduled to be awarded this month.
PAGCOR CEO Andrea Domingo told local media that 76 applications have been received from online gambling firms since the license offering was rolled out in September.
Domingo said that the licenses will in all likelihood be issued “before the end of October”, from which point they will be valid for one year, while also stating that licensees “know that we might be changing the rules and regulations after that”.
The successful applicants will be permitted to offer online casino games to foreigners outside of the Philippines and over the age of 21, with Domingo noting that PAGCOR will use the first three to six months of the new licensing regime to monitor the gaming activity.
The relationship of the Philippines with online gambling took a tumultuous turn with the election of President Rodrigo Duterte in June.
Duterte used his first cabinet meeting on 30 June to direct PAGCOR to begin rescinding licenses issued for domestic electronic gaming operations, with the new offshore regime at least partially aimed at shoring up PAGCOR’s revenue in the wake of this crackdown.