A gambling license in the Philippines: key documents and requirements
With the advancement of technology and the accessibility of the internet, the gambling industry is evolving and undergoing changes driven by shifting preferences and consumer expectations.
In the Philippines, gambling is regulated by the Philippine Amusement and Gaming Corporation (PAGCOR). PAGCOR was established in 1977 during the presidency of Ferdinand Marcos. Initially, it only regulated casinos, but now it oversees all forms of gambling, including casinos, slot machines, lotteries, sports betting, and online gaming.
Key functions of PAGCOR include:
- Issuing licenses and regulating gambling activities in the Philippines.
- Ensuring compliance with gambling laws and rules.
- Collecting taxes and fees from the gambling industry, which is a significant source of government revenue.
- Financing various social and infrastructure projects with funds generated from the gambling industry.
Requirements for obtaining a gambling license in the Philippines:
A Philippine gaming license is a Business-to-Consumer (B2C) license for providing or conducting online gaming products, including live casino games (internet casinos), random number generator (RNG) online games, and online sports betting.
The licensee can be a legal entity registered in the Philippines or registered abroad.
Key documents:
- Registration with the Securities and Exchange Commission (SEC) or its foreign equivalent (original or certified copy).
- Articles of Incorporation and By-Laws (original or certified copy).
- Personal Disclosure Sheet for all key persons in the company.
- Company profile and business plan.
- Lease agreement or proof of ownership for the workplace, specifying the area.
- Anti-Money Laundering and Terrorism Financing Prevention Plan (MTPP).
- Certificate of registration with the Bureau of Internal Revenue (BIR) (original or certified copy).
- Certificates of paid-up capital and reserves. The paid-up capital of the company should be at least USD 440,000.
Location requirements:
- The workplace should not be situated in a residential area or any zone restricted by PAGCOR.
- Lease agreement or proof of ownership for the workplace, specifying the area.
- In the absence of a city or municipal resolution stating otherwise, an original or certified copy of a Letter of No Objection (LONO) issued by the local authority where the licensee's office will be located.
Obtaining a gambling license in the Philippines is a step toward legal and successful operation in the gambling industry. However, it's essential to note that requirements and regulations may change over time, so we recommend seeking assistance from legal experts like IT-OFFSHORE. Legal consultants actively monitor legislative updates and can provide the necessary support for adapting to new rules and opportunities.