In an attempt to avoid a proliferation of the industry as witnessed in Cambodia, The Philippines is keeping its door shut for new online casinos.
Andrea Domingo, Philippine Amusement and Gaming Corporation chairperson, said on Tuesday that her agency will be placing a halt on the acceptance of any new license applications in the foreseeable future to stay focused on the sustainable growth of the gaming industry in the Philippines.
The comments were made by Ms Domingo during her opening speech at the G2E Asia conference in the Philippines, which started today.
Domingo said, “We don’t want to overburden the industry by blatantly giving out licenses.”
She added, “The President declared a ban on IRs and casinos in January 2018 and we have observed that. He lifted the ban in Clark last year and we have observed that too, but even the Clark region is saturated.”
She reiterated, “Even in Clark we have stopped acceptance of any applications for new casinos.”
As per Domingo, acceptance of any new POGO licenses, which had been going on for some time, will also be halted. Domingo said the idea is to allow the gaming industry to mature so that all the regulations can be put in place.
She also noted that she was confident that around 95 to 97 per cent of the issues related to POGO and its dark side, including kidnapping, prostitution and finance, will be addressed by the ned of 2020.
The Philippines’s regulator also issued a warning to gaming operators who represent themselves as BPOs. She said, “We have the formula to catch that.”
Domino said that licences for e-bingo and e-games have also been halted in areas where they are deemed to be saturated.
“We want people to know that if it’s overcrowded, there’s no reason to put your money in, just go and invest somewhere else. These are the things we have been discussing with the board, and these are the things that we will be implementing by 2030.”
“But for all those that are here now, rest assured, that PAGCOR will do everything to support you and your profitability within the framework of the law.”
The Southeast Asian country does not want to benefit from Cambodia’s ban on online casinos and is monitoring if gaming service providers here are hiring workers from Cambodia, Domingo said.
Online casinos banned in Cambodia may relocate to the Philippines and boost office demand, property consultant Santos Knight Frank senior director Morgan McGilvray said in October.
The Philippine Amusement and Gaming Corp. is regulating the issuance of new licenses for both land-based and online casinos. “We want to rationalize so that everybody with a license has a good chance of being successful,” Chairman Andrea Domingo said.