76 firms compete for Pagcor offshore gambling licenses

The Philippines gaming regulator has received interest from 76 companies for its offshore gaming licenses, with contracts to be awarded starting this month, local media reports.

Pagcor is said have received 76 applications since rolling out its offshore license offering, according to its chairman and chief executive officer Andrea D. Domingo on Monday to the local press.

The regulator previously noted that it will cap the number of Philippine offshore gaming operators (POGOs) applicants at 25 for the first six months of implementation, in order to give Pagcor time to adjust to the process while ensuring each applicant is properly vetted.

“It will last for a year and they (licensees) know that we might be changing the rules and regulations after that,” Domingo said, quoted by BusinessWorld Online.

When asked when the regulator will issue the first 25 licenses, Domingo said: “I think before the end of October.”

Some of the companies considering the license includes embattled Philweb Corp.

“We are studying it at the moment,” Philweb president Dennis Valdes said to Philippines news outlet, The Inquirer in mid-September.

According to The Inquirer, top officials of Pacific Online Systems Corp. (Loto), Leisure and Resorts World Corp. (LR) and DFNN Inc. are also assessing the new offering.

“There’s no prohibition for them not to apply but everything has to go through the procurement process and then the board will decide,” Domingo said. “This time, they will have to follow all the rules and regulations for procurement.”