Pagcor Casino License #
And with Covid-19 restricting travel for the foreseeable future, both PAGCOR and the casinos need to figure out a way to start allowing more Filipinos to gamble safely, and going online is the way. “A casino license or license to operate gaming operations is NOT part of the sale of the property. Hence the winning bidder of the Property shall neither have the right nor authority to operate a casino or any other gaming operation,” said PAGCOR.
The Supreme Court of the Philippines agreed with the operator Waterfront Philippines Inc. in its legal battle against the fight against Philippine Amusement and Gaming Corporation (PAGCOR).
The Philippine gaming regulator and the operator had a 12-year legal dispute related to the alleged breach of gaming license application requirements by Waterfront Philippines Inc. But eventually, PAGCOR will have to issue the license to the operator.
Three years ago the court prohibited PAGCOR from attempting to block the operator’s license. The regulator did not accept the ruling, appealed and again lost in december 2018. However, PAGCOR tried again and the Philippine Court of Appeals denied the request in strict accordance with the previous ruling.
The gambling operator then decided to take the case to the Supreme Court, which ruled in february of this year. Again PAGCOR challenged the decision and claimed that the high court made an error in the judgment. But again the Supreme Court ruled against the regulator in october and concluded that this was the “final and enforceable decision as it was recorded in the Book of Entries and Sentences.”
In this way PAGCOR can no longer refuse to issue the gaming license to Waterfront. The company made a deposit of $ 100 million for the license, while PAGCOR issued licenses to four other properties: Okada Manila, City of Dreams, Solaire Resort and Casino, and Resorts World Manila (RWM).
Of these, the RWM operator is the only one that is not within Entertainment City. And Westside City Resorts World, the other property, will launch before Waterfront can open.
During the lengthy trial, the Philippine courts had ordered PAGCOR to pay Waterfront some $ 4,000 in damages, a derisory figure compared to the operator’s expenses in attorney fees and license fee deposit fees.
Now after being tied hands to operate for so long and the economic situation of the country and the company derived from the pandemic, the company may have to reconsider when to open.
In a statement issued last week, the operator noted that the court decision and the eminent issuance of the gaming license “will have a favorable effect on WPI’s business or operations once the pandemic is over.”
The problems with PAGCOR have not been the only ones that Waterfront has had in recent years. Their finances have been at precarious levels, having defaulted in 2003 on a loan that ended in a judgment that cost it $ 16 million. Although the ruling was overturned by a judge several years ago, last year it was reinstated, shaking the financial support of the company.
Source:https://calvinayre.com/2020/11/02/casino/pagcor-loses-appeal-over-waterfront-philippines-casino-license/
The Philippine Amusement and Gaming Corporation (PAGCOR) was created by the government during the Martial Law years to put a stop to the growing number of illegal casinos around the Philippines. Presidential Decree 1067-A created the corporation, it was later amended and became known as the PAGCOR Charter. PAGCOR is a 100% government-owned corporation that has had control over the gambling industry since 1975. They are controlled by the office of the President of the Republic of the Philippines. This informative page will discuss PAGCOR’s mandates, revenues, and ventures as they move into the future with the goal of creating a better Filipino community.
Pagcor Casino License Requirements
PAGCOR’s Mandate
PAGCOR is given the task to regulate, operate, authorize and license games of chance, card games, numbers games and particularly casino gaming. Since 1975 PAGCOR has had control of domestic casinos and licensing. When they were first created they owned most of the casinos they licensed but now they have been mandated to sell off their owned casinos and only regulate and license casinos. Recently they have started licensing offshore casinos by the way of the Philippine Offshore Gaming Operations (POGO) legislation. For their first year, they decided to only offer 50 offshore licenses, but the response was so great that they will probably offer more next year.
PAGCOR’s Licensed Sportsbook – MegaSportsWorld
Domestic sportsbook MegaSportsWorld is currently legally licensed and regulated by PAGCOR. They have over 100 locations spread across the Philippines and offer up a wide variety of local and international sports to bet on. Players can call in bets or place them at any of the physical locations. Domestic online betting is not supported at this time, but they do have an online app that will give up to date money lines and odds. Our guide to MegaSportsWorld is great for anyone looking for more information about domestic sports betting in the Philippines, or in Manila. Some of the more popular sports to bet on in the Philippines are basketball, boxing, soccer, and horse racing. For further information about online betting visit our Philippines legal online sports betting guide.
Republic Act No. 9487
In June of 2007, the Republic Act No. 9487 was passed and a new Philippines gambling law was created by the Philippine Congress. This Act extended the life and rule of PAGCOR for another 25 years. The Act was also amended to include that PAGCOR can enter into agreements and joint ventures, leaving the door open for future business opportunities. RA 9487 also requires that PAGCOR obtains consent from local government agencies before choosing a location for their operations. This helps territorial officials who desire to keep casinos and other gaming operations out of certain zones and neighborhoods.
The amendment also excludes Jai alai from PAGCOR operations. Jai alai is a sport that is often associated with pari-mutuel betting. The Republic Act 9487 also takes away PAGCOR’s gaming authority of activities already covered by other existing franchises or regulatory agencies. Meaning that there are other regulatory agencies that don’t have to abide by PAGCOR’s regulations. The Cagayan Valley has their own set of regulators set up to control their economic zone.
PAGCOR’s Revenue Distribution
Since its conception, PAGCOR has been a main source of revenue for the Philippines. In the past they have had their hands in disaster relief, school buildings and early childhood development funding. PAGCOR’s funds are divided up by ordinance with its charter. PAGCOR remits 50% of its annual net earnings, the rest is divided up like this.
- 5% of winnings go to Bureau of Internal Revenue (BIR) as a franchise tax.
- 50% goes to the National Treasury as the National Government’s mandated income share.
- A fixed amount goes back into cities that have PAGCOR casinos for development projects.
- Corporate income tax is paid in compliance with the National Internal Revenue Code.
- 5% after franchise tax and mandated National government income share funds the Philippine Sports Commission to develop and fund sports programs.
- 1% goes to Board of Claims, an agency that compensates wrongful incarceration and prosecution.
As of 2014, PAGCOR had released P375 million to Early Childhood Development and P208 million to winning national athletes who had made their country proud. PAGCOR also is in coordination with the Department of Energy and will be providing 1.5% of its revenue as funding for the Renewable Energy Act.
How PAGCOR Promotes Tourism
PAGCOR is mandated with the task of promoting tourism by Presidential Decree 1067-A or the PAGCOR Charter. One of the obvious ways that they promote tourism is by licensing casinos and domestic sportsbooks. There are multiple casinos located around the Manila Bay area and more inside the metropolitan area. Casinos and resorts attract tourism by offering the chance to bet on popular games while offering up luxury hotel accommodations and shopping options. PAGCOR has also gone a step further with the creation of Entertainment City (E-City).
E-City is like the Vegas strip in the fact that it has 4 major casinos located together. The resort casinos are Resorts World, Solaire Resort & Casino, Okada Manila, and City of Dreams Manila. It’s no coincidence that these mega resorts are located just blocks away from the Manila airport. PAGCOR also licenses domestic sportsbook MegaSportsWorld (MSW). Domestic sports betting is not legal in a lot of places, so the brick-and-mortar sportsbook is a unique attraction to most tourist. MSW has over 100 locations scattered across the Philippines.
Pagcor Casino License
PAGCOR’s Future
PAGCOR’s goal is to make a better Philippines for all people. They have used the gambling industry and tourism to help people in need and provided disaster relief when the typhoon devastated the Philippines several years back. In 2007, PAGCOR was given an extension of 25 years that will keep them in control until 2032. PAGCOR currently has made headlines for turning a decrepit school into a new PAGCOR replaced the building. They are also currently helping families that have been affected by the Mayron volcano eruption that recently took place. There is no doubt that PAGCOR wants to develop a better environment for the Filipino people. One look at their past endeavors and it is clear that their intentions are the development of the youth and assisting those in need. It is amazing what a corporation can do when they put the needs of their youth ahead of everything else.