PAGCOR stands for a moratorium regarding licenses for casinos
The Philippine moratorium on casino licenses could help protect licensed casino operators.
The gambling regulator of the Philippines PAGCOR supported the recently adopted moratorium on the casino licensing process. According to Alfredo Lima, president and part-time executive director of PAGCOR, this step will help the authorities protect the interests of operators who already operate in the Philippines.
In accordance with the moratorium, the government stops issuing licenses for land-based casinos in order to protect investments in the territory of the state. This was reported by the authorities during the World Gaming Executive Summit, which was held this week in Barcelona. These measures will not affect current licensees.
Lim said that five applications were submitted to PAGCOR before the moratorium was passed this month, and the processing process will continue. This means that the Philippine casino market during 2018 may expand. However, the authorities did not disclose the expiration date of this moratorium.
Last month, the city council of Parañac allowed Landing International Development Limited to build a new casino on its territory. According to official sources, the international gambling company is already able to invest and put into operation a casino-resort.
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