Philippine Amusement and Gaming Corp. (Pagcor) is looking to limit the number of accredited Philippine Offshore Gaming Operators (POGO) to 50 in order to avoid “oversaturation” in the industry, local media reports.
Jose Tria Jr., Pagcor special assistant to the chairman, said yesterday that 42 POGOs are already approved and 12 applications are pending.
“We will be able to assess the saturation of the market through the audit system. If their (POGOs’) income drops from their previous reported income, it means there are too many operators,” Tria said.
Tria said the cap can be lifted at anytime depending on the assessment.
Last year, the Philippines gaming regulator announced it will grant offshore gaming licenses to Philippine-based operators or offshore based operators which offer offshore gaming.
The regulator says it expects to generate up to P6 billion (US$121.6 million) in taxes every year from POGO licensees once everything is in place.
“We are looking at more or less P3 billion in taxes, POGO alone. If we are able to streamline operations, (it can go as high as) P6 billion a year, in tax revenues,” he said.
Tria also noted that the eventual plan would be for operators to pay two percent of GGR for land-based and online operations.
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