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Since January of last year, the Philippine Amusement and Gaming Corporation (PAGCOR) has earned 3.48 billion pesos, marking an increase of nearly 1800% compared to the previous calendar year. This significant growth is remarkable considering the decline in revenue due to the COVID-19 pandemic, travel restrictions, and personal mobility limitations. PAGCOR's expenses have also increased by 64%, but this hasn't raised concerns as revenue is returning to normal. Many domestic and international casinos have seen a comprehensive increase in users and revenue since the restrictions were lifted.
PAGCOR has recently garnered attention for its licensing and oversight of Philippine Offshore Gaming Operators (POGO), which primarily target Chinese citizens unable to access physical casinos due to their proximity to the Philippines. Chinese citizens have reported including the Philippine gambling sector on their blacklist due to the offshore licensing projects of POGOs. PAGCOR has been declaring POGO licenses as invalid in response to China's actions, and the Philippine government is considering a comprehensive ban on POGO licenses. President Marcos has yet to make a decision regarding the Philippine gambling industry, but many anticipate reforms in the near future.
Under the current Philippine gambling laws, online gambling from within the Philippines is legal. If online casinos from outside the Philippines obtain credible licenses and supervision from the Philippine Amusement and Gaming Commission, they can legally offer their services to Philippine residents. The Philippine gambling laws pertain to what domestic citizens and businesses can do, not what they can access. Since legal online casinos are located overseas, users should exercise due diligence when accessing these websites and assume associated risks. |
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Post time 1-10-2023 14:20:35