PAGCOR, The Philippine Amusement and Gaming Corporation has put a stop to issuing licenses to offshore gaming operators until the end of the year due to illegal operations and security concerns.
The Philippines has now become the second Southeast Asian country to confirm the suspension of licenses after the Cambodian Government put a stop to awarding new online gambling licenses effective immediately in efforts to put a stop to illegal gambling activities.
Andrea Domingo, the Chairman and Chief Executive for PAGCOR said the halt to issuing licenses was actually put on hold three weeks ago. Domingo said the regulator will review existing contracts therefore the suspension will remain for all Philippines Offshore Gaming Operators until the review is complete.
PAGCOR did what they thought was necessary after concerns about security problems and the legitimacy of operators. Illegal gambling was having a big impact on the social aspect of illegal gambling as well. PAGCOR has awarded more than 58 POGO licenses over the last three years and feel that its time to stop and take a look at other concerns and see where the concerns and issues can be resolved.