In an interview with AGB Brief, Katrina Ponce, CEO of the Economic Zone Authority Enril Kagayan, said Philippine Amuse Gaming Corporation (PAGCOR)'s attempt to regulate offshore game operators (POGO) had "failed."
Cagayan chief also suggests operator/regulator PAGCOR to "leave offshore components of Philippine games to free ports such as CEZA"
"CEZA is committed to maximizing and recovering billions of dollars in lost revenue. With effective monitoring of gaming activities, enhanced enforcement and robust monitoring systems, we are working to eliminate revenue outflows and ensure that license owners enjoy a fair and equitable ecosystem," he told AGB Brief.
PAGCOR, the Aurora Pacific Economic Zone (APECO), and CEZA, are the only licensed government agencies (AGAs) which the local anti-money laundering watchdog has called “appropriate” to “undertake the prudential regulation of Internet-based casino operations.” The nation’s Anti-Money Laundering Council (AMLC) and the AGAs “jointly supervise Internet-based casinos.”
Cagayan, by Charter the first authorized zone to explore online gaming in the Philippines, has been operating in the space for over two decades.
Business magnate turned CEZA CEO, Katrina Ponce Enrile – whose father Juan Ponce Enrile “also wrote the PAGCOR charter” – told AGBrief that the offshore gaming issue “is territorial, therefore they (PAGCOR) should only be dealing with local bets.”
Katrina Ponce Enrile underlined that the POGOs issue “just grew without people really understanding the magnitude, the potential, the ramifications, or the consequences that it could create.”
“Consequences” include waves of arrests, allegations of human trafficking, crypto scam rings, and other illegal activity reports in PAGCOR-licensed POGOs.
PAGCOR has mandated review of all POGOs gaming licenses under its purview in an attempt to claw back unpaid tax revenue, and an increase in rates – all expected to drive away smaller operations and preempt illegalities.
- Benefits for CEZA
Currently, PGCARC PGA is currently PGCCARCARC for PGACARC, regardless of whether the license has been re-applied before September 17
Licensed online game operators are also required to approve a PHP $1 million ($15 million) capital stock market.
PGA's PGA is issued at 5% of the total game revenue.
It is pointed out that this new measure could help the overall industry in the Philippines, but it could affect CEZ in particular.
"PGA) says, "PAGC really wants to save it, and given the interest rate, it gives interest rates."I think they want to go higher tier to the game operator they want to talk to.
CEZ is registered with CESCO because it is joining CESCAR on the PGA, which is starting from the PGA.
"They're too crowded here," he said.[…] I think they can miss a lot here.They have already made a profit.
CEO Cagan pointed out that he is talking with PGC.We are a very small jurisdiction compared to PCR.We can do what they want, so we can do it.
There is no excessive intervention.
POC is cracking down on PGA operations and CE's CEO emphasized that online space is no longer working much.
Katrina said CEAZ "is establishing strict safeguards to prevent activities related to activities or establishing strict safety guards to prevent related activities.By implementing these safe guards, we create an environment where operators can create an environment where they can be part of the trust and transparent industries.
Everyone, including the background to the corporate world, said AGBRBrant, AGBRBRBrad.
Poioz said, "Very strict." You'll be a vet, and Katrina Elliott will protect you.
CE's investigation process includes an 'audit platform audit platform' and currently includes three-way talks.The PO audit of the PGC is conducted by the National Audit Committee (Stop-T) until it is conducted by "Stop-Bragg-B".
Protect licensed PGA
In the previous state, Katrina pointed out that "EZAZ is a symbol of law enforcement's wrongful element."
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