The Philippine Amusement and Gaming Corporation (PAGCOR) has announced a significant reduction in the fees imposed on iGaming providers, lowering the fees to 35% from the previous 50%. This change, which will take effect in the third month of this year, is aimed at encouraging more investors and applications for new licensees in the Philippines. This information was confirmed by Alejandro H. Tengco, the CEO and President of PAGCOR, during an interview at ICE London.
Tengco explained that the decision to reduce the fees was part of the regulator’s efforts to refine and update existing regulations and structures to make them more conducive to the current gaming landscape. In addition to the fee reduction, PAGCOR is also advocating for a reduction in tax on documentary stamps and lower taxes on winnings.
The gaming regulatory agency also revealed an overall revenue of PHP73.11 billion (approximately $1.3 billion) from its gaming properties in the previous year, representing a significant annual increase of 32.8%. Tengco emphasized the importance of luring extra investment to the iGaming industry in the Philippines, which has become a key player in regulating both online gaming licenses and land-based casinos in the Southeast Asian region.
In a move to prevent illegal gaming and create a competitive market, PAGCOR also announced a decrease in its revenue share from 50% to 30-32%. Tengco highlighted the regulator’s commitment to reducing its revenue share in order to discourage illegal gaming activities. He also mentioned the plan to privatize the operator during the fourth quarter of 2025.
Overall, these changes and initiatives from PAGCOR reflect its dedication to adapting to the evolving gaming industry and creating a more favorable environment for investors and stakeholders.