Pagcor – Bookielink

November 15, 2024

Philippines gambling revenue up 37.5% in Q3 on online growth

Gross gambling revenue in the Philippines increased 37.5% year-on-year in Q3 after a near-five-fold uptick within the online sector offset declines across the land-based market.

Data published yesterday (14 November) by the Philippines Amusement and Gaming Corporation (Pagcor) shows revenue hit PHP94.61 billion (£1.27 billion/€1.53 billion/$1.61 billion) during Q3. This is clear of the PHP68.79 billion reported last year and 2.7% higher than Q2 this year.

The stand-out result in Q3 was the PHP35.71 billion generated from electronic (or online) gaming, a rise of 465.0%. The Philippines electronic gaming market covers activities such as online casino, sports betting, bingo and specialty games.

Pagcor chairman and CEO Alejandro Tengco talked up the “phenomenal” increase. He said he expects the sector to continue to grow and reach its end-of-year PHP100 billion revenue target in 2024.

“This impressive performance is a strong indication that the use of modern technology and mobile gadge..

July 29, 2024

Pagcor dismisses fake memo ordering imminent POGO closures

The Philippine Amusement and Gaming Corporation (Pagcor) has dimissed a fake memo for local government units to immediately terminate the operations of Philippine Offshore Gaming Operators (POGOs).
Picked up by Pagcor, the fake memo states all POGOs must be shut down by the first week of August. The memo features Pagcor logos and was fraudulently signed by Jessa Mariz Fernandez, head of the regulator’s offshore gaming licensing department.

The memo refers to Philippines president Ferdinand Marcos Jr announcing the decision to ban all POGOs during his State of the Nation address on 22 July. During the address, he said all POGOs should close by the end of the year.

On Saturday (27 July) Pagcor dismissed the memo in a statement that said it was a forged version of an earlier memorandum issued by Pagcor on 23 July.

The genuine memo did not give a definitive date for POGO closures. It instead said closures were “pending finalisation of the details and process of winding down”, adding tha..

August 3, 2023

Pagcor details new regulatory framework for offshore gaming

The Philippine Amusement and Gaming Corporation (Pagcor) has announced details of a new regulatory framework for offshore gaming licensees.

Effective since last month, the new framework is part of inter-agency efforts to tackle illegal offshore activities in the country.

The stand-out measure is that all licensees and service providers are declared probationary. They will need to re-apply for approval from Pagcor before a cut-off date of 17 September this year.

Operators and providers that have been operating illegally will not be considered for a new licence.

“In the present framework, all service providers who are accepting bets are required to apply for a licence,” Pagcor’s assistant vice-president for offshore gaming licensing, Jessa Fernandez, said.

“We will also evaluate the beneficial owners of these companies so that they will be held liable in case they are found to be involved in any illegal activity.

“Entities with findings of activities outside their granted licence..

September 23, 2022

English football must distance itself from the Pogos

iGB op-ed: Zak Thomas-Akoo argues that in the wake of criminal scandals regarding offshore operators based in the Philippines, the continued association by English football clubs with the sector could be a ticking time-bomb for scandal.

Most fans of Premier League clubs probably couldn’t tell you much about the Pogo sector, but it has become deeply embedded in top-flight English football.

A Philippines Offshore Gambling Operation (Pogo) is a Philippines-based gambling site that broadcasts games of chance to other jurisdictions – usually elsewhere in Asia. Almost by definition, this comes without approval by local authorities in the operator’s target markets. While China has been the highest-profile target, a number of Pogos also specialise in the Korean or Vietnamese markets.

The sector is also widely believed to be infiltrated by criminal organisations and has been linked to crimes such as human trafficking, slavery and prostitution, with the situation getting so bad that a senator..

Mon	Tue	Wed	Thu	Fri	Sat	Sun
				1	2	3
4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30

Tag: Pagcor