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Philippine Amusement and Gaming Corp. (Pagcor) reported lower online gaming revenue on Thursday as revenue from Philippine Overseas Gaming Operators (POGOs) and their service providers declined. According to José Tria, Pagcor’s assistant vice president for offshore gaming licenses, the state-owned company’s monthly regulatory fees of around P600 million a month were cut almost in half after only 32 out of 60 POGOs were able to resume operations, but at a 30-percent capacity. “This should have been lower if it weren’t for the guaranteed minimum fees, allowing Pagcor to impose regulatory fees higher than 2 percent of the GGR (gross gaming revenue) of the POGOs following the ‘formula that is greater ‘”, He said. It also said that the licenses of five POGOs had been canceled and another five suspended, while 42 service providers had requested to cancel their accreditation. It added that only half, or 111 of the 218 accredited service providers, were able to operate again after the Internal Revenue Office authorized them to do so.
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