CEZA seeks to regain online dominance, eyes Fintech

After an annus horribilis in 2017, First Cagayan Leisure and Resort World Corporation is fighting back, pledging major upgrades in infrastructure and technology to help the Cagayan Special Economic Zone and Freeport (CEZA) regain its status as the hub for online gambling in the Philippines. Once the premier licensor for online firms in the country, First Cagayan lost more than half of its licensees last year after Philippine President Rodrigo Duterte cracked down on online gambling. Although most of First Cagayan’s licensed operators held a license in the CEZA, an isolated, largely undeveloped region on the country’s northern shore, in practice they were operating out of more developed areas, such as Makati in the capital. Duterte put a stop to that arrangement, issuing an Executive Order specifying that no licensed online gambling operator could directly, or indirectly, allow persons who are physically located outside the territorial jurisdiction of the licensing authority to...

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