A senior member of the Philippines House of Representatives is asking for for House Bill 3559, which, if ed, would replace PAGCOR with PAGCOM. 23vr
The Philippine Amusement and Gaming Corporation (PAGCOR) has been the gambling regulator in the Philippines since PD 1067-A first went into effect in 1977. However, the government agency has also ventured into ownership since then.
Today, PAGCOR owns 44 casino locations and numerous satellite locations nationwide. It also licenses numerous other commercial, non-government-owned casinos. Recently, PAGCOR announced its plans to privatize the casino industry and focus on regulation only. The agency is expecting around $1.5 billion for all its properties combined.
House Representative Jonathan Flores is now seeking for HB 3559, a piece of legislation drafted initially by Rep. Ralph Recto, now the current Secretary of Finance. Before Flores started pushing the bill among his peers, it sat in limbo in the Manila capital for two years.
When Is PAGCOR Going To Sell Their Casinos? 4k2t5i
PAGCOR has announced that it will sell its casinos and privatize the industry by 2025. However, before it can sell, PAGCOR must amend its charter, which will go into effect in Q4 of 2024.
Philippine gambling revenue exceeded $27 billion in gross gaming revenue for 2023. Revenue was the key factor in the government’s first decision to step into the ownership role.
Before a final sale is awarded to the private sector, PAGCOR has some stipulations. One stipulation is that the new owners must retain 50-70% of the current workforce. Other employees will receive severance packages.
Can I Access Online Casinos In The Philippines? 3k6u1h
The Philippines offers in-person and online casinos from domestic locations and offshore brands. Since there are no gambling laws that forbid offshore gambling, Filipinos can access the most trusted online casinos, poker rooms, and sportsbooks from around the world.
Popular brands such as BetOnline and SuperSlots have been servicing the Philippines for years. You can find special bonuses, player reward programs, live dealer games, and more. To further enhance the s’ experience, online casino sites also offer -friendly banking options such as Bitcoin, Litecoin, Visa, Cashier’s Check, and more.