The new Philippines offshore gaming license is set cover any operator that "accepts and/or facilitates wagers on regulated gaming events” including horse and dog races along with those providing "live event audio and/or visual feeds of such regulated gaming events”.
"Issuance of this special class of sportsbetting license shall be limited to offshore gaming operators that are taxed or otherwise contractually required to pay a certain percentage of their gross gaming revenues for rights to live audio and/or visual feeds and/or betting pool access by that governing body or by content rights holders subject to the authority of such [a] governing body,” read a statement from the Philippine Amusement And Gaming Corporation.
In order to receive one of the new offshore gaming
licences, firms must agree to pay a monthly 1.5% gross gaming revenues tax and
assure that broadcast events are "regulated by a legitimate foreign governing
body of the country where such [a] gaming event is being run, held or otherwise
originates”.
In addition, holders must secure the "express written permission” from a
sporting event’s governing body or rights holder to facilitate wagers and be
taxed or required to pay fees to "the foreign governing body” or "content
rights holders”.
Finally, license holders will moreover be expected to submit to the Philippine Amusement And Gaming Corporation a "letter of confirmation” from governing bodies or content rights holders stating that the sportsbetting firm has agreed to hand over a certain percentage of its gross gaming revenues from any event.
Source: GMB / World Casino Directory
