In the Philippines and prominent gaming operator Leisure and Resorts World Corporation (LRWC) has reportedly announced that it has received the appropriate license to launch a new domestic retail and online sportsbetting service.
According to a report from Inside Asian Gaming, the Manila-listed firm is already responsible for running a nationwide network of eGaming facilities via its AB Leisure Exponent Incorporated arm on behalf the Philippine Amusement and Gaming Corporation (PAGCor) regulator. The source detailed that the company is moreover said to be considering whether to resurrect its plan to bring a large integrated casino resort to the small island of Boracay following President Rodrigo Duterte’s recent revocation of a moratorium on such developments.
PIGO potential:
LRWC reportedly disclosed that the GSports service from its wholly-owned Total Gamezone Xtreme Incorporated subsidiary has now been granted an iGaming license under the Philippine Inland Gaming Operator (PIGO) scheme and will be looking to launch operations before the end of the year. The operator purportedly proclaimed that this sportsbook intends to offer local punters the opportunity to place wagers on a wide variety of international markets covering ‘professional, collegiate and other sports leagues’.
“GSports will provide a secure and safe betting website by using the latest encryption technologies to protect the sensitive information of its customers. Fairness and quality playing experience are to be guaranteed as all of its betting products and services are to be audited and regulated by PAGCor.”
Coronavirus corollary:
Inside Asian Gaming reported that the PIGO scheme was launched late last year in order to help land-based casinos in the Philippines recoup some of the gaming revenues that were being lost as a direct result of the coronavirus pandemic. This program was purportedly first taken up by Manila’s giant Solaire Resort and Casino, Resorts World Manila and Okada Manila integrated casino resorts before being utilized by Indian enterprise Jade Entertainment and Gaming Technologies Incorporated and, more recently, local retail sportsbook operator MegaSportsWorld.
Under the PIGO scheme, licensed operators are reportedly being allowed to offer a wide range of iGaming entertainment including online casino games, sportsbetting and slots to adult punters that have first registered. The source explained that such customers may subsequently enjoy these services, which moreover run to a plethora of live-dealer attractions, from anywhere in the country of over 7,600 islands with operators being obliged to honor an associated tax rate that has been set in the region of 42%.
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