PAGCOR Renews Online Gaming Landscape with 40 New Internet Gaming Licenses

The Philippine Amusement and Gaming Corp. (PAGCOR) has recently issued 40 licenses to newly rebranded Internet Gaming Licensees, transitioning from the previous POGO system to modernize online gaming regulation.

Regulatory Overhaul and Rebranding

In a significant development, PAGCOR has rebranded its offshore gaming operations, transitioning from the term "Philippine Offshore Gaming Operators" (POGOs) to "Internet Gaming Licensees" (IGL). This change is part of a broader effort to overhaul the sector's regulatory framework. The rebranding reflects PAGCOR's commitment to updating and streamlining its oversight of offshore gaming activities, ensuring they meet higher standards of compliance and governance.

Implementation of New Standards

The shift to the IGL designation followed the introduction of the "Internet Gaming Licensing Regulations," which came into effect in July 2023. These regulations were designed to address various challenges and controversies, particularly those concerning the employment of foreign workers within the industry. All operators previously classified under the POGO label were required to reapply for licenses under this new, stringent regulatory regime, emphasizing transparency and adherence to Philippine labor laws.

Economic Contributions and Growth

Despite facing controversies, the offshore gaming sector continues to play a crucial role in the Philippine economy. In 2023, these operations contributed significantly to PAGCOR's revenues, with the gaming industry overall reaching record highs in gross gaming revenue, surpassing pre-pandemic figures. The rebranding and regulatory updates are expected to further enhance the industry's economic benefits by attracting more legitimate and compliant operators.

Expanding Licensing and Future Prospects

With the issuance of 40 new licenses, PAGCOR aims to better regulate and control the activities of Internet Gaming Licensees. This move is expected to improve the Philippines' reputation as a gaming hub and attract more foreign investment into the sector. By ensuring that these operations are well-regulated, PAGCOR increases potential tax revenues and bolsters the international credibility of the Philippine gaming industry.

Strengthening Industry Integrity

The updated licensing framework and the new class of Internet Gaming Licensees are poised to elevate the gaming sector's operational standards. PAGCOR's proactive approach to refining the regulatory landscape demonstrates its dedication to enhancing the industry's integrity and profitability. This strategic pivot is also expected to mitigate risks associated with unregulated gaming activities and enhance internet-based gaming operations' overall safety and fairness.

These initiatives by PAGCOR signify a forward-thinking approach to governance in the gaming sector, aligning with global regulatory trends and supporting the Philippines' position in the international gaming market.