PAGCOR has moved to ease short-term pressure on licensed operators after warning that rising oil prices and wider economic strain are beginning to affect the Philippines gaming sector.
Chairman and CEO Alejandro Tengco said soaring fuel and electricity costs linked to the ongoing Middle East conflict were already impacting business activity and mobility, with gaming jurisdictions globally also feeling the effects.
In response, PAGCOR has deferred implementation of new monthly Minimum Guaranteed Fees for accredited gaming system administrators by two months, citing the current economic crisis.
Under the revised timeline, GSAs operating electronic casino games with minimum gross gaming revenue of P30m will pay a P9m first tranche covering June 1 to December 31. GSAs without electronic casino games and with minimum GGR of P15m will pay P3m. The second tranche has been pushed back to January 1, 2027.
Tengco said PAGCOR would continue adjusting its approach in line with market conditions while keeping responsible gaming at the centre of its regulatory framework.
The post PAGCOR delays new fees as oil price shock weighs on Philippines gaming appeared first on G3 Newswire.
PAGCOR has moved to ease short-term pressure on licensed operators after warning that rising oil prices and wider economic strain are beginning to affect the Philippines gaming sector. Chairman and CEO Alejandro Tengco said soaring fuel and electricity costs linked to the ongoing Middle East conflict were already impacting business activity and mobility, with gaming…
The post PAGCOR delays new fees as oil price shock weighs on Philippines gaming appeared first on G3 Newswire.