Pagcor said that an investigation has confirmed that the business was actively participating in illegal activities. Therefore, the regulator took the step to cancel the company’s authorisation.
The cancellation of CGC’s accreditation came hot on the heels of Pagcor issuing a “stern” warning to offshore licencees and accredited service providers involved in criminal activities.
On May 4, the regulator issued a suspension order to CGC after searching the business’s premises. The company stood accused of various criminal acts including credit card fraud, serious illegal detention and human trafficking.
During the inter-agency search operation, authorities found that CGC operated six buildings, rather than the two accredited by Pagcor.
The state gaming corporation also imposed a $350,000 fine to the operator the business provided its services to, Oriental Game Limited “for its failure to ensure the legitimate conduct of CGC’s business.”
Pagcor: Abide by laws or face “severe” consequences
Pagcor chairman and chief executive Alejandro Tengco warned all offshore gaming licence holders and accredited service providers to abide by Philippine laws or face “severe consequences.”
“Continued operations despite the cancellation of their accreditation or licenses shall be considered illegal,” he said. “Immediate action will be taken against those who are engaging in such.”
“PAGCOR strongly advocates responsible gaming to curb all forms of social ills being linked to gaming. This is the reason why we continue to forge close partnership with other government agencies.
“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,” Tengco added.
Original article: https://igamingbusiness.com/legal-compliance/pagcor-cancels-pogo-service-providers-accreditation/
