POSC reconsiders e-casino investment plans due to regulatory concerns
The company had acquired 37.5 per cent of HHRPI, which runs Buenas e-Casino.
The Philippines.- Pacific Online Systems Corp. (POSC) has decided to reconsider plans to invest further in the online gaming market due to fears of a ban on Philippine Inland Gaming Operators (PIGOs). Willy N. Ocier, chairman of POSC, told reporters the company was “re-thinking” its involvement in the sector.
In January, the company entered a deal to buy 37.5 per cent of HHR Philippines, which is licensed by the Philippine Amusement and Gaming Corporation (PAGCOR) as both a provider of electronic gaming platforms for land-based and online gaming operators licensed and an online gaming provider under the brand Buenas.
In March, Claire Castro, undersecretary of the presidential communications office, said president Ferdinand R. Marcos Jr. could impose a ban on PIGOs if they are found to be causing issues similar to those that led to the shutdown of offshore gaming operators. Castro said the government was conducting studies to evaluate the effects of PIGOs and would make comparisons with the operations of offshore gaming operators.
