Corporate News & Analysis: E-Casinos Applications to be Approved by the Government

There are 76 applications for the government’s offshore gaming licenses with 25 to be approved in the first batch.  The one-year licenses are for e-casino operations through the internet to be offered to foreign nationals aged 21 and above.  Benefiting from this are Philweb (WEB) and Leisure & Resorts World Corp. (LR).  The latter has e-gaming subsidiaries AB Leisure Exponent, Inc. and Total Gamezone Extreme.  It is not reported though if WEB and LR are part of the applicants for the offshore gaming licenses.

The government will be studying the e-casino operations in the first six months of the term of the license.  This may be an effective way for PAGCOR to raise funds without approving the establishment of more casino resorts in the Philippines.  Other gamingcos (RWM and BLOOM) may follow suit next year with their own e-casino subsidiaries if the first Philippine-based e-casinos are successful.  That is if PAGCOR can increase the number of applicants next year.

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