Gambling in the Philippines is legal as they are several land casinos in operation. Furthermore, online gambling is at the moment not legal for its residents but this may soon change. According to a statement by Philippine gambling regulators, PAGCOR is Considering Online Casino Gambling.
The news comes from an interview with PAGCOR (Philippines Amusement and Gaming Corporation) made by Asia Gaming Brief. According to the article, Andrea Domingo of PAGCOR is deciding on whether to authorize land casinos to operate online casinos.
PAGCOR is Considering Online Casino Gambling for its Citizens
According to the latest online gambling news, PAGCOR is currently reviewing the proposal for online gambling. The proposal was given to PAGCOR to review by an unknown consortium of commercial casinos in the Philippines.
Furthermore, according to casino forums, the proposal involves the four casino resorts in the Philippines. These are casinos the casinos that have a license to operate in Manila’s Entertainment City. They include: Resort World City of Dreams, Okada and Solaire.
If the proposal gets approval, it would allow land casinos in the Philippines the ability to create online gambling websites.
At the moment, online gambling is very important to the very survival of the gambling industry in the Philippines. This is because the industry has taken a heavy financial toll due to the coronavirus pandemic.
Even though casinos in Manila began to reopen in August, they are only able to have 30% capacity. Therefore, the financial damage for these casinos is very serious. This is because these four casinos have lost over $271.4 million during the second quarter. Thus, online casino gambling would help their current financial situation.
While it is true that Filipino casinos are not able to take wagers on the internet, this applies to locals. This is because the Philippines is home to 55 offshore gambling operators that have licenses to operate. However, these gambling operators can only take wagers from abroad and mostly cater to other Asian countries.
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