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Philippine Uncertainty over Online Casino Licensing

Following the ban over online casino related financial business in the United States the online gambling industry has taken its business elsewhere. With a global gambling community, the power to issue online gambling licenses is a very useful ability for any governing body that want’s to take part in the global gambling market. And power lies – you would always find battles over it. This time the ‘battle zone’ are the Philippines, where the Philippine Amusement and Gaming Corp. and the Zamboanga City Special Economic Zone are fighting over the latter’s right to issue licenses for online casino business.

Three licenses were already issued by the city’s special economic zone. However, the Philippine Amusement and Gaming Corp. ordered the licensing firms to cease operating in light of improper licensing. To their claim, only a license issued by Pagcor is a valid one. Things are surely hitting up over there and each side is claiming for legitimacy. Christopher Arnuco, presidential assistant on trade and vice chair of the Zamboanga City Special Economic Zone, is claiming that the licensing program by the city’s special economic zone is covered by a legal opinion from the Philippines Justice Secretary.

Arnuco is talking about the legal authority to license firms that would operate tourist-related operations from within the city. Either way, the legal mess must be sorted out as the firms aren’t able to operate without a legitimate license. There are many other options for getting a gambling license nowadays and there are other governing bodies that would love to offer their services and locations for the online casino industry. Legal uncertainties are exactly the kind of business the industry is now trying to avoid and the situation over at the Philippines isn’t looking that certain. The online casino industry is a significant player in the global economy and everyone wants a seat at the table.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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