The Philippines – A Philippine government owned casino operator; Philippine Amusement and Gaming Corporation, has today announced that it is donating almost a quarter of a million dollars to the Office of Cybercrime via its Department of Justice, to tackle the illegal online gaming operations in the Southeast Asian region.
The Philippine Amusement and Gaming Corporation, also known as PAGCOR, is a government-owned and controlled corporation established through the Presidential. The firm is one of the largest contributor of revenue to the government.
Reportedly, the money is being used for the purchase of equipment to aid local authorities in tackling the illegal online gaming trade. The decision comes just days after an agreement between Pagcor and the Department of Justice.
The firm made a statement on the deal and decision to hand of thousands of dollars:
“The initial amount must be liquidated before the next tranche may be released to handle intelligence gathering, investigations and prosecutions of illegal online gaming activities. We really want to help especially if it’s related to cybercrime. The PHP5 million funding is just an initial grant.”
The news comes after an air of controversy is still present around the Philippine Offshore Gaming Operator; the official designation for firms operating in the Philippines which offers online gambling services to markets outside the Philippines.
Philippine Offshore Gaming Operators or POGOs are online gambling firms which operate in the Philippines but caters to customers outside the country. To operate legally they must be licensed by the Philippine Amusement and Gaming Corporation (PAGCOR).
In addition, the Philippines are still upholding a suspension on the acceptance of new applications for online gaming licenses amid concerns within the nation about lost employment opportunities for natives along with a rise in criminal activity and unpaid taxes.