Internet gaming licenses - First Cagayan Leisure & Resort Corporation

[Casinomeister]

CONTACT:
Mr. Justin Casey
First Cagayan Leisure and Resort Corp.
26/F West Tower, Philippine Stock Exchange Center
Exchange Road, Ortigas Center, Pasig City, 1605
Manila, Philippines
Tel: +63 2 638 5556
Email: Justin@firstcagayan.com


Authority to issue Internet gaming licenses



First Cagayan Leisure & Resort Corporation (FCLRC) would like to advise all interested parties that the recent developments regarding Internet licensing within the Philippines, in no way influences or affects licensing opportunities within the Cagayan Special Economic Zone and Free Port (CSEZFP).

Sports and Games Entertainment Corporation (SAGE) operates under a license issued by the Philippine Amusement & Gaming Corporation (PAGCOR).

The Cagayan Economic Zone Authority (CEZA) is a government authority duly mandated to supervise and manage all activities within the CSEZFP. Operating under the Republic Act 7922, CEZA has the power to issue Internet gaming licenses independently of any other government agency or authority, including PAGCOR, for the purpose of targeting international players.

As designated sole master licensor for the zone, FCLRC continues to issue Interactive gaming licenses, on behalf of CEZA, and is in no way affected or influenced by these recent developments.


For further information contact Mr. Justin Casey, First Cagayan Leisure and Resort Corporation,
Email: Justin@firstcagayan.com Tel: 63 2 638 5556

[jetset]

This is the latest position, Bryan - news item which appeared earlier this week...

The Sports & Games Entertainment Corp (SAGE), which operates www.sagecasino.com and claims to be Asia’s first online casino, has lost its license to operate inside the Philippines. The Philippine Supreme Court cancelled the contract which had been granted to them by the Philippine Amusement and Gaming Corp., or Pagcor, the state agency that handles casino gaming operations, five years ago. The court ruled Pagcor had 'acted beyond the limits of its authority when it passed on or shared its franchise to SAGE.'

The court added that, 'while Pagcor is allowed under its charter to enter into operator's and/or management contracts, it is not allowed under the same charter to relinquish or share its franchise, much less grant veritable franchise to another entity such as SAGE.'

This is the second time that a contract between Pagcor and a gaming company has been annulled by the courts. In 2001, it ruled against a unit of property concern Belle Corp. which had been running gambling operations in the country.