PAGCOR updates regulations for gaming operators

THE Philippine Amusement and Gaming Corp. (PAGCOR) said it is regulating gaming operators more closely, introducing new fees for venue changes, imposing anti-money laundering compliance rules, and controlling their advertising.

“Processing fee shall be paid to PAGCOR in compliance with the application requirements for relocation, expansion, or reduction of gaming venue area within the same building, compound, or complex,” PAGCOR said in a memorandum.

PAGCOR said operators seeking to relocate, expand or reduce gaming areas within the same building, compound or complex must pay a P50,000 processing fee. This is separate from the current P50,000 inspection fee required for transfers of gaming venue.

The revised rules also strengthen coordination between PAGCOR and the Bangko Sentral ng Pilipinas (BSP) in monitoring compliance with anti-money laundering regulations.

PAGCOR said BSP-supervised financial institutions (BSFIs) accredited as support service providers must comply with Anti-Money Laundering Council rules applicable to their business activities.

“BSFIs accredited as support service providers shall be governed by the applicable Anti-Money Laundering Council rules and regulations relevant to their specific BSFI business activities,” it said.

“Any noncompliance therewith shall be reported by the BSP to PAGCOR Anti-Money Laundering Supervision and Enforcement Department and may constitute grounds for the imposition of corresponding penalties, as prescribed,” it added.

The revised rules also require payment gateway providers to submit their latest BSP licenses instead of BSP-issued registration certificates.

PAGCOR also upgraded advertising rules by requiring prior approval for general announcements and the advertising of online gaming platforms released through mass media.

The amendments will take effect five days after publication on PAGCOR’s website. It was posted on May 26. — Justine Irish D. Tabile