Mar 16, 2020 MANILA, Philippines — The Philippine Amusement and Gaming Corp. (Pagcor) has suspended all gaming activities in casinos and other licensed gaming places, such as bingo halls and electronic game. Pagcor said the suspension applies to all land-based casinos, electronic games, bingo, sports betting, poker and slot machines, and other activities regulated by Pagcor in Metro Manila. BINGO Fun with a capital 'B' Enjoy your favorite games and get the chance to win big cash prizes!
The Philippine Amusement and Gaming Corporation (Pagcor) has issued a warnings to citizens about the dangers of illegal gambling, after receiving reports about illegal online bingo games being organised in the country.
The regulator warned that these games, which were being promoted through Facebook, were exploiting uncertainty caused by the novel coronavirus (Covid-19) pandemic to steal players’ money, financial information and commit identity theft. Real apps that pay cash.
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Furthermore, Pagcor pointed out, playing these illegal products is also a crime.
“Pacgor is committed to the prosecution of persons involved in such illegal activities, because of the strong link between illegal gambling and organised crime who are also engaged in credit card fraud, identity theft, money laundering, among others,” it explained.
The regulator’s warning comes after the Philippines Offshore Gaming Operators (POGOs) saw operations significantly disrupted by Covid-19. These operators were ordered to temporarily cease activities from 18 March, but it was announced on 1 May that they would be permitted to resume operations, provided their tax affairs were in order.
This meant that they had to have paid all franchise tax owed to Pagcor, as well as additional taxes to the Bureau of Internal Revenue, and regulatory fees for April. However, with many operators in arrears, this has led to significant delays in their return to business.
Pagcor Bingo Philippines
According to local media, a number of POGOs have either confirmed or are planning to pull out of the market as a result of the disruption, with a number of service providers also thought to be shutting down.
While POGOs have long been controversial, to the point that China has demanded the industry be shut down because of targeting of Chinese nationals, they are a significant contributor to the Philippines economy, providing more than 31,556 jobs as well as tax revenue.
The industry is also a major source of funding for the real estate industry, which has earned an estimated PHP25bn from leaseholds and rent payments, according to Pagcor.
For the three months to 31 March 2020, gambling revenue from Pacgor’s sector fell 5.7% year-on-year to PHP17.22bn, with land-based casinos shuttered from 15 March. Facilities in certain parts of the country began to reopen from 8 June, though were limited to 50% capacity, with larger facilities unlikely to follow until July.
Farm Town
Some news on First Cagayan from Bloomberg. Look at the story — it says just one licensed casino in the Cagayan freeport is drawing $13 million of bets a day. Phew!
It’s 11 p.m. and inside an office building on the northeastern tip of the Philippines a dozen people place wagers on blackjack and baccarat. No matter how much they bet, none of the gamblers will win — or lose — a thing.
They are all proxy bettors, making wagers on behalf of patrons who track the action and issue instructions from outside the country by way of a live Internet link.
“There is no place like this in Asia yet,” said Kan Goh, general manager of Eastern Hawaii Leisure Co., which operates the casino in Santa Ana, a town of 20,000 fishermen and farmers.
Cagayan Freeport, a 12-year-old special investment zone that includes Santa Ana, is using the gaming provisions in its charter to chase a slice of the estimated $12 billion wagered over the Internet each year. The zone is the first Asian jurisdiction to legalize online casinos, giving it a head start in the race to lure the region’s bettors.
The zone targets Chinese gamblers who helped Macau overtake Las Vegas as the biggest casino market last year, said Jose Mari Ponce, chairman of Cagayan Freeport, who rented his office to Eastern Hawaii as a temporary home. Harrah’s Entertainment Inc. and MGM Mirage, the largest casino operators, so far have failed to persuade the U.S. Congress to let them take Internet wagers.