Pagcor defends moratorium on licences
A Philippine moratorium on casino license would help protect licensed casino operators.
Philippines.- Gaming authority of Philippines, Pagcor (Philippine Amusement and Gaming Corp), supported a recently-released moratorium on the casino licensing process. According to Pagcor President and Chief Operating Officer Alfredo Lim, the measure would help authorities protect current operators’ interests in the Philippines.
The moratorium puts a stop on issuing land-based casino licences by the government in order to protect investments that have already made in the country, as authorities explained during the World Gaming Executive Summit in Barcelona this week. Current casino licences are not affected by the measure and could benefit from it.
Five applications had been submitted to Pagcor before the moratorium was issued this month and, according to Lim, they would continue to be processed, meaning that the Philippine casino market could be further expanded this year. However, authorities did not reveal when the moratorium would lose effect.
Meanwhile, last month, the Parañaque City Council, located in the Philippines islands, allowed Landing International Development Limited to install a new casino. According to the official reporters, the international gaming company is now able to invest and operate an integrated resort after leasing 9.5 hectares of land in May.
