PIGO authorization for LRWC
In the Philippines and prominent gaming operator Leisure and Resorts World Corporation (LRWC) reportedly announced it had received the appropriate license to launch a new national and online retail business sports betting service.
According to a report from Inside Asian Gaming, the Manila-listed company is already responsible for running a nationwide network of electronic gaming facilities through its branch AB Leisure Exponent Incorporated on behalf of the Philippine Entertainment and Gaming Society (PAGCor) regulator. Source said the company would further consider resuscitating its plan to create a large integrated casino complex on the small island of Boracay following President Rodrigo Duterte’s recent revocation of a moratorium on such developments.
LRWC would have revealed that the GSports service of its exclusive property Total Gamezone Xtreme Incorporated subsidiary has now obtained an iGaming license under the Philippine Inland Gaming Operator (PIGO) program and will seek to launch operations before the end of the year. The operator has allegedly proclaimed that this sportsbook intends to offer local punters the opportunity to place bets on a wide variety of international markets covering ‘professional, college and other sports leagues‘.
Would have read a statement from LRWC …
“GSports will provide a secure and secure betting website by using the latest encryption technologies to protect sensitive customer information. The fairness and quality of the gaming experience must be guaranteed because all of its betting products and services must be audited and regulated by PAGCor. “
Corollary of the coronavirus:
Inside Asian Gaming reported that the PIGO program was launched at the end of last year in order to help land-based casinos in the Philippines recover some of the gaming revenue that was lost as a direct result of the coronavirus pandemic. This program was first taken over by the Manila giant Solar Resort and Casino, Resorts World Manila and Okada Manila integrated casino complexes before being used by Indian company Jade Entertainment and Gaming Technologies Incorporated and, more recently, local retail sports betting operator MegaSportsWorld.
Under the PIGO regime, authorized operators would be allowed to offer a wide range of iGaming entertainment including Online casino games, sports betting and locations to adult bettors who have registered first. The source explained that these customers can then take advantage of these services, which are also bloated. live dealer attractions, from anywhere in the country of over 7,600 islands the operators being obliged to honor an associated tax rate which has been set at around 42%.