First Cagayan Leisure and Resort: Increasing Profits
The Philippines are not only an island nation with millions of citizens, beautiful nature, and rich culture but also one gambling jurisdiction - The First Cagayan Leisure and Resort Corporation (a.k.a. FCLRC). Established in 2003 it is aimed at regulating both online and land-based bookmakers that offered sports betting and casino games to Eastern Asia residents.
It is appointed as both the Master Licensor of the Cagayan Economic Zone Authority (CEZA) and Internet Gaming Operations in the Cagayan Special Economic Zone and Freeport (CSEZFP). On top of that, FCLRC also holds a Land-Based Casino License granted by CEZA.
FCLRC Responsibilities
While the First Cagayan Leisure and Resort Corporation is ultimately owned by the government, they are under strict obligations to run their corporation under mass levels of autonomy. Until recently, every decision that was made previously about the Cagayan Freeport was decided upon solely by the FCLRC and the Cagayan Economic Zone Authority (CEZA) alone.
The corporation has a set of responsibilities to licensees, namely:
- Enforcing rules and regulations promulgated by CEZA
- Monitoring game payouts
- Collecting all fees due to CEZA
- Ensuring that all applicants have no criminal record
- Checking that all software and specific games conform to all regulations
- Maintaining telecommunication infrastructure and internet connectivity
FCLRC License: How To Obtain It And What Is The Cost?
Any casino or bookmaker can obtain FCLRC's master license, under the obligation that they do not allow Philippino players to gamble. The reason is that FCLRC cannot regulate the betting in Philippine Islands as the state holds a monopoly over the gambling that takes place within the country.
If you wish to get the license you need to have a CEZA registered enterprise. A company can apply for a registration and after all the documents will be approved there is a $200 (USD) annual registration fee you have to pay for obtaining the license.
Once everything is approved and the fee is paid it will take about a month to receive the license. It will be valid only 1 year from the issued date and they cannot change ownership.
Contact Info
If you have some complaints or questions, you can visit the official website of the company – http://www.firstcagayan.com
You can also contact The First Cagayan Leisure and Resort Corporation via one of the methods:
Address:
26th Floor West Tower, Philippine Stock Exchange Center
Exchange Road, Ortigas Center, Pasig City
1605 Rizal, Philippines
Telephone: (+632) 8 638 5556
E-mail: info@firstcagayan.com
Facebook: https://www.facebook.com/FirstCagayanLeisureAndResortCorporation/
