|The Sports & Games Entertainment Corp, which operates www.sagecasino.com and claims to be Asia’s first online casino, has lost its license to operate inside the Philippines. The Philippine Supreme Court cancelled the contract which had been granted to them by the Philippine Amusement and Gaming Corp., or Pagcor, the state agency that handles casino gaming operations, five years ago. The court ruled Pagcor had 'acted beyond the limits of its authority when it passed on or shared its franchise to SAGE.' The court added that, 'while Pagcor is allowed under its charter to enter into operator's and/or management contracts, it is not allowed under the same charter to relinquish or share its franchise, much less grant veritable franchise to another entity such as SAGE.' |
This is the second time that a contract between Pagcor and a gaming company has been annulled by the courts. In 2001, it ruled against a unit of property concern Belle Corp. which had been running gambling operations in the country.