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PAGCOR reportedly failed to collect ₱2.2 billion in unpaid dues from shuttered POGO firms. To avoid further losses to be incurred by the government, in 2023, PAGCOR announced its plan to privatize 45 casinos by the third quarter of 2025, with a revenue target at between ₱60 billion and ₱80 billion. [35]
In late 2016, PAGCOR issued 35 offshore gaming licenses and made over PHP1 billion in licensing and processing fees. Application and processing fees amount to $50,000 for online casinos and $40,000 for sports betting, plus another $200,000 and $150,000 respectively upon the approval of each license. [49]
PAGCOR announced that it will launch a global-facing online casino in early 2024 under its ‘Casino Filipino’ brand. [14] In August 2024, Supreme Court Justice Marvic Leonen granted Yeng Guiao's 2016 mandamus nullifying the Ramos-era Pagcor memorandum. It directed the Pagcor to remit 5% of its gross income per year to PSC from 1993. [15]
Island Cove was an online gambling complex primarily owned and controlled by Chinese nationals in Island Cove and Animal Island in Kawit, Cavite, Philippines.. It was originally a resort and leisure park called "Covelandia Island Resort", which then closed in 2018, then reopened under the name "Island Cove Resort and Leisure Park" or simply as "Island Cove" in 2021.
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PAGCOR operates 102 e-Games stations throughout Metro Manila. [37] An e-Games station is an internet café that allows customers to play casino games online. [38] In addition, there are 12 e-Games sites in the metropolis operated by BigGame, Inc. (BGI), a subsidiary of PhilWeb Corporation, under license from PAGCOR. [39]
Later, he said he woke up missing a $60,000 watch, $1,500 in casino chips and his credit cards, which he said had been used to make purchases.
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