PAGCOR’s CEO said: “By lowering our share rates, PAGCOR is creating a more favourable regulatory environment by encouraging unregistered online gaming operators to transition to the legal market.”
The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) has announced that, since January 1, a further reduction in its fees for e-games from 35 per cent to 30 per cent has come into force.
PAGCOR’s chairman and CEO Alejandro H. Tengco, also said that the rates for e-games run by integrated resorts will be cut even lower to 25 per cent to help counterbalance the overhead costs faced by physical operators.
He said: “By lowering our share rates, PAGCOR is creating a more favourable regulatory environment by encouraging unregistered online gaming operators to transition to the legal market.”
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The fees imposed by PAGCOR are calculated as a fixed percentage of the gross gaming revenues (GGR) of the licensees. According to Tengco, these reductions will provide gaming operators with additional resources for marketing, while also aiding in the prevention of voluntary shutdowns and promoting ongoing growth and profitability within the sector.
He further noted that the progressive decrease in rates enabled the e-games sector to exceed its PHP100bn GGR goal for the entire year of 2024 as early as last September.
Before these reductions, which began in 2023 under the current administration, PAGCOR was charging over 50 per cent of GGR from licensees, which discouraged expansion efforts. The last reduction in e-games rates occurred last April when they were lowered to 35 per cent.
Tengco said: “The gradual reduction of share rates has significantly contributed to the growth of the e-Games sector, which has become a key driver of the local gaming industry.”
He then added that the policy shift has resulted in “a significant rise” in the number of licensed e-games operators, as many former grey market businesses opted to “join the mainstream by securing PAGCOR licences”.
As of now, PAGCOR has issued 1,188 licences for various on-site and online gaming offerings, a 13.57 per cent increase from the 1,046 licenses issued in 2023. The number of accredited gaming service providers also increased fivefold from 49 in 2023 to 174 in 2024. Tengco said: “We expect this trend to continue, and we are optimistic that the best is yet to come for the country’s e-games sector.”
See also: PAGCOR doubles down on gender development initiatives
PAGCOR’s CEO said: “By lowering our share rates, PAGCOR is creating a more favourable regulatory environment by encouraging unregistered online gaming operators to transition to the legal market.” The Philippines.-…
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