|The Philippines may be the next preferred destination for offshore casinos and sportsbooks, after the holder of an exclusive Internet gaming license lost out, |
according to a report on gamblinglicenses.com.
Apparently, state-owned Philippine Amusement and Gaming Corp. (PAGCOR) granted Sports and Games Entertainment Corp. (SAGE) exclusive rights to operate all forms of Internet gambling for Philippine and foreign gamblers in 1998, with a contract that runs until 2005.
Now, however, PAGCOR has stripped SAGE of exclusive rights, due to its failure to immediately put up an online betting system.
In February, then-PAGCOR president Rafael Francisco wrote to SAGE informing it of the board decision to revoke the exclusive license However, SAGE disputes the decision, insisting PAGCOR could not entertain other operators until after the expiry of its license in 2005. PAGCOR said that as the agency solely authorized to grant gaming licenses, it could revoke these permits if it sees fit.
Another sports book operator, PhilWeb has submitted an application to PAGCOR, which the licensing agency is considering. Philweb was recently appointed the exclusive partner of Next Generation, Inc., an Antigua-based gaming company specialising in Internet sports betting.
PhilWeb also wants to operate Internet sports betting for the horseracing industry, specifically the Manila Jockey Club and Philippine Racing Club (PRC)