PAGCOR to lower rates for electronic games operators from April 1

PAGCOR to lower rates for electronic games operators from April 1

The regulator hopes to attract more operators and increase its licensing and regulatory revenues.

The Philippines.- Philippine Amusement and Gaming Corporation (PAGCOR) chairman and CEO Alejandro Tengco has revealed plans to reduce the gross gaming revenue (GGR) remittance rates for online and on-site betting platforms, effective April 1.

At the ASEAN Gaming Summit at Shangri-La The Fort on Tuesday, (March 19) Tengco said the decision to lower remittance rates by an average of around five per cent aims to bring them more in line with global industry standards and foster a more conducive environment for gaming investments in the Philippines. 

Tengco said: “The remittance rates should then average around 35 per cent (of GGR), which is quite significant because when we assumed office in August 2022, the prevailing remittance rate was over 50 per cent. We have gradually lowered them so that by April 1, our rates will be at par with global industry standards.”

It sis hoped that the revised rates will encourage operators currently operating without licences to consider obtaining permits, thus boosting PAGCOR’s licensing and regulatory revenues.

Tengco highlighted three factors that he said will drive the growth of the local gaming industry: the entry and expansion of integrated casinos, the performance of the electronic games sector, and the forthcoming privatization of PAGCOR casinos. Tengo said the Casino Filipino properties will begin to be privatised in late 2025 or early 2026.

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