Philippine gaming regulator Pagcor will limit the number of Philippine offshore gaming operators (POGO) licensed across the country to just 50, it said this week.
Speaking to local media outlet PhilStar, assistant Vice President of Pagcor Jose Tria Jr said it wanted to limit the number of POGOs to ensure supply didn’t outstrip demand – although the number could be lifted in the future.
“We need to evaluate first if the industry is already oversaturated,” Tria said. “It depends on the evaluation. The saturation of the market can be seen in the audit system. If the income of each operator goes down from the previously reported, this means there are too much operators.”
Pagcor has so far issued 42 licenses to POGOs, which offer online casino games and sports betting to overseas players. It has been reported that another 12 applications are pending, down from 44 after a number of applicants withdrew their interest.
Operators must pay US$50,000 for online casino and US$40,000 for sports betting to apply, then another US$200,000 for a casino license and US$150,000 for a sports betting license if approved.
Mr Tria said the new limit was aimed at protecting licensed operators, stating, “They are just dividing [income] between themselves instead of increasing it. That means it’s already saturated.”
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