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The Philippines’ gaming regulator has effectively junked its cap of 50 licensees after it added more names in its list of approved online gambling operators.
That is a big breakthrough!
Indeed. The Philippine Amusement and Gaming Corporation (PAGCOR) has updated its list of approved online gambling licenses, showing that it granted a total of 51 licenses as of October 31.
Why is there a cap on the number of licenses that PAGCOR will issue?
PAGCOR earlier said that it will cap the number of POGO licenses that it will issue until it had time to assess whether newer licensees were cannibalizing older licensees’ revenue.
Did the increase in the number of licenses have any effect?
Aside from making punters happier, PAGCOR also posted an increase on its gaming revenue by 11.1% to P42.4b (US $826m) in the nine months ending September 30. The said figure easily exceeded its P34b revenue target. Aside from that, PAGCOR’s net income and Q3 revenue also rose.
Takeaway
PAGCOR’s move to ignore its license cap will both benefit punters and the government. As more operators come in, punters will have more choices, operators will improve their services to lure customers, and PAGCOR will put more money in the state’s coffers.
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Peter Dugas: Regulators are cautiously optimistic on cryptocurrency
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| GLOBAL ROUND UP |
| ASIA |
A Philippine Amusement and Gaming Corporation (PAGCOR) insider told CalvinAyre.com that around 120 to 150 gaming businesses are looking for another place to set up their shops.
| CARIBBEAN |
Baha Mar finally held its official grand opening, following the $4.2b property’s soft opening in April.
| NORTH AMERICA |
Trevon Gross, a 47-year-old pastor, was given a five-year prison sentence for accepting bribes from Coin.mx exchange amounting to $150,000.
| FACT YOU NEED TO KNOW |
In 2015, commercial casinos and “racinos” (casinos at race tracks) generated $8.7 billion for states, or 31% of gambling revenue.
| TIP OF THE DAY |
In creating quality content marketing assets, one must consider understanding what top media and industry sites want from your content.
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UltraPlay introduces eGold, the ultimate eSports betting cryptocurrency
Online betting provider UltraPlay will be releasing ‘eGold’– an eSports betting cryptocurrency that will allow a quick, easy and secure alternative in betting on Counter-Strike: Global Offensive, League of Legends, DOTA2, Hearthstone, World of Warcraft and many others.
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Poker fans, here’s a heads-up! Players can now qualify to Day 2 of the both the upcoming APT Finale Macau Main Event and APT Finale Macau Championships Event by playing Day 1 online through Natural8! The APT Finale Macau Championships Event will be held at the Macau Billionaire Poker located at the Babylon Casino, Macau from November 29 to December 10.
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