Philippines hopes to attract more overseas licensees
The Philippines is to offer new online gambling licences to companies that target overseas customers.
In a crusade against its domestic gambling industry, the new government, under President Rodrigo Duterte, has already said it will not renew the licences of electronic bingo operators and gaming giant Philweb Corp since coming into power two months ago.
However, it has now said it wants to encourage more casino and betting operators to set up online services that target gamblers in other countries.
Andrea Domingo, head of the Philippine Amusement and Gaming Corp (Pagcor), said the fees collected from the new operators could help offset the loss of about 10 billion pesos (€190.3 million/$215.0 million) in annual revenues following the government's decision not to renew domestic licences.
Domingo said the permits will be offered on a first-come-first-serve basis and reviewed after six months.
“We're readying the application forms. It's no longer the Filipinos who are betting but foreigners,” Domingo told reporters after a budget hearing at the House of Representatives.
“We don't know yet how saleable it is. There might be no takers, or there could be many applicants.”
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