Philippine gaming regulator revokes accreditation of CGC Technologies Inc

Content Team 1 year ago
Philippine gaming regulator revokes accreditation of CGC Technologies Inc

The accreditation of CGC Technologies Inc (CGC), a once-approved offshore gaming customer-relations service provider, has been revoked by the Philippine Amusement and Gaming Corp (PAGCOR), a state-run entity. This decision follows a stern warning issued by the gaming regulator to Philippine Offshore Gaming Operators (POGOs) regarding their involvement in criminal activities.

PAGCOR takes action

According to PAGCOR’s statement released on Wednesday, CGC’s accreditation had already been suspended due to suspicions of its involvement in credit card fraud, serious illegal detention, and human trafficking.

The Chairman and CEO of the Philippine gaming regulator PAGCOR
Alejandro H. Tengco, Chairman and CEO, PAGCOR.

The Philippine authorities had conducted raids on CGC’s facilities earlier this month. Investigations have confirmed CGC’s involvement in criminal activities, leading to the cancellation of its accreditation by PAGCOR. Furthermore, it was discovered that CGC had violated certain conditions attached to its accreditation.

In addition to the cancellation order, PAGCOR has decided to forfeit CGC’s performance bond with immediate effect. Oriental Game Ltd, the offshore gaming licensee under which CGC operated, has also been fined USD 350,000 by PAGCOR for its failure to ensure the legitimate conduct of CGC’s business.

Alejandro Tengco, the chairman and chief executive of PAGCOR, emphasised the importance of complying with Philippine laws for all offshore gaming licensees and service providers. He warned that continuing operations after the cancellation of accreditation or licences would be considered illegal and would result in immediate action.

Mr Tengco reaffirmed the commitment to regulate the industry properly and collaborate with law enforcement agencies to ensure that revenues from regulated gaming contribute to worthy causes, particularly nation-building.

“Continued operations despite the cancellation of their accreditation or licences shall be considered illegal. Immediate action will be taken against those who are engaging in such,” remarked Mr Tengco.

Through proper regulation and cooperation with our law enforcement agencies, we will continue to ensure that revenues from regulated gaming will be used for more worthy causes, especially nation-building. – Alejandro Tengco, Chairman and CEO, PAGCOR

The focus remains on maintaining adherence to Philippine laws within the offshore gaming industry to avoid severe consequences, and PAGCOR will continue its efforts to redirect gaming revenues towards beneficial endeavours.

Stay informed, stay connected, and stay ahead in the ever-evolving gaming industry with SiGMA Group

This July, join SiGMA Group for the PAGCOR-endorsed SiGMA Asia Summit in Manila for an immersive foray into the Asian and Philippine gaming markets. Engage with in-depth discussions on gaming regulation, industry trends, and future prospects. Don’t miss the opportunity to connect with key regional and global stakeholders and gain valuable insights.

Additionally, stay tuned for an upcoming SiGMA Magazine issue focused on the Asian markets, featuring exclusive interviews and brilliant insights from KOLs such as Alejandro Tengco, Chairman of PAGCOR. This publication will provide unparalleled coverage of the gaming landscape in the region.

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