This comes after CGC Technologies – which occupied six buildings within Sun Valley’s hub – had its licence revoked last week, after an investigation revealed that it had participated in illegal operations.
Alejandro Tengco, chairman and CEO of Pagcor, said that the Sun Valley Clark Hub in Clark Freeport Zone no longer fit the criteria for a licence.
Tengco said the operator was “no longer suitable to maintain its provisional accreditation, nor be issued a full accreditation as an offshore gaming hub due, to its failure to ensure a lawful and orderly conduct of offshore gaming by its occupants in its registered sites”.
Subject of investigation
Pagcor said on 4 May, a search and rescue operation took place at the Sun Valley property after a number of serious crimes – including cryptocurrency investment scams, illegal detention and human trafficking – were linked to CGC.
Of the six buildings occupied by CGC, two were covered by Pagcor’s licensing.
Tengco warned operators not to partake in any criminal activities, stating that their licences would be revoked.
“This serves as a warning to all our offshore gaming licensees and accredited service providers that Pagcor is serious in its mission to uphold responsible and regulated gaming in the country,” Tengco continued.
“While we see the potential of offshore gaming in terms of our revenue-generation efforts, we do not condone their involvement in any criminal activity that violates the rights – not only of Filipinos but of other nationalities as well.”
Original article: https://igamingbusiness.com/legal-compliance/legal/pagcor-revokes-sun-valley-clarks-licence/
